Weekly Commentary

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Monday, January 22, 2018

U.S. equities hit new highs during the period, with the Dow Jones closing above 26,000 for the first time, and finished up the holiday week posting modest gains. Despite the headline drama populating the press about the prospective government shutdown, the market largely shrugged off concerns.

Tuesday, January 16, 2018

Stocks had another positive week, finishing strongly across most markets, despite a mid-week pullback on a report that Chinese officials might pare back or halt purchases of U.S. Treasury's. Oil and gold prices rose on the week. The yield on the 10-year U.S. Treasury note climbed from 2.48% to 2.55%.

Monday, January 8, 2018

The economic calendar underpinned positive sentiment during a holiday-shortened week, as stocks posted strong gains globally. The Dow Jones Industrial Average surpassed the 25,000 mark, a new record. Oil and gold prices were up for the week; the widely watched 10-year U.S. Treasury yield rose from 2.42% to 2.48%.

Tuesday, January 2, 2018

Investors in U.S. stocks enjoyed strong gains in 2017, as the Dow Jones Industrial Average and S&P 500 both posted returns greater than 20%. Looking ahead, some investors believe we are in the “eighth or ninth inning” and that the end is near for this aging bull market. Instead, we believe we are in a “doubleheader” that will give this bull market another leg. Please read more about what will happen this year in our 2018 Global Perspectives™ Forecast: Pro-Business Economy Unleashes Growth.

Tuesday, December 26, 2017

Passage of the tax reform bill and avoidance of a government shutdown led to another up week for major stock indices. Oil, gold and copper prices also rose. The yield on the widely-watched 10-year U.S. Treasury note jumped from 2.36% to 2.49% to close the week.

Tuesday, December 19, 2017

U.S. stock markets rose strongly for the week, propelled by a Friday surge as hope rose for passage of the tax overhaul. Japan and Europe bucked the trend, posting declines. Oil prices fell, continuing last week’s decline, while gold rose. The 10-year U.S. Treasury yield declined slightly to 2.35%.

Monday, December 11, 2017

U.S. bourses slid as Congress grappled with the details of tax reform, but regained momentum on encouraging jobs data and news that the U.K. and European Union had agreed on Brexit terms. Gold was off a lot, oil a little. The 10-year U.S. Treasury yield closed up slightly at 2.38%.

Monday, December 4, 2017

The Dow Jones Industrial Average topped 24,000 in another record-breaking week for U.S. stocks. Investors overlooked political news focusing on tax cuts that in a surprise passed late Friday night in the Senate and is expected to kick off a strong new week. The 10-year U.S. T-note yield jumped to 2.4% on the news over the weekend while crude oil prices were flat and gold’s luster was slightly off.

Monday, November 27, 2017

U.S. equity markets bumped up in a strong global environment fueled by supportive bank policies and steady earnings growth. The start of the holiday shopping season grabbed a lot of attention with an annual Black Friday online spending increase of around 18%, year to year.

Monday, November 20, 2017

The U.S. equity market was little changed at the end of the period as we enter what’s likely to be a quiet holiday week. Strong fundamentals continue to drive global markets despite domestic policy uncertainties and geopolitical tensions; though weakness in oil prices and skepticism about the passing of the tax bill are still weighing on market sentiment.


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