Market Summary – February 2, 2014

The final week of February turned in relatively strong performances with equity markets in the U.S. closing at fresh all‐time highs. The rally was fairly broad based with only utilities and telecom stocks losing ground while consumer, energy and industrial names were up sharply. The strong week brought most indices into positive territory on the […]

Market Summary – August 8

U.S. equity indexes reached new records on signals that the Eurozone may be turning around and a higher than expected U.S. GDP report for the second quarter. US gross domestic product grew at an annualized 1.7% pace in the second quarter, ahead of the 0.9% forecast by economists and faster than the first quarter’s 1.1% […]

Market Summary – July 26

U.S. equity markets were relatively flat last week, as earnings reports were mixed. Trading volume was lower as investors awaited economic news this week. New home sales in the U.S. rose 8.3% in June, despite higher mortgage rates. Sales of previously owned homes slipped 1.2% in June from May, but remain 15% higher than a […]

Market Summary – July 19

Ben Bernanke repeated reassurances on easing, saying the Fed would continue to provide “a highly accommodative monetary policy for the foreseeable future.” The Fed’s comments combined with favorable corporate earnings reports to boost the S&P 500 to a new record level last week. The city of Detroit declared bankruptcy with liabilities of more than $18 […]

Market Summary – July 12

Fed Chairman Bernanke reassured markets that the Fed would not end its monetary stimulus measures until the country’s labor market has stabilized, potentially reaching an unemployment rate of below 6.5%. Markets rallied globally after Bernanke’s statement as the S&P 500 Index reached an all‐time high last week. Borrowing by U.S. consumers grew more than expected […]

Market Summary – July 5

Uncertainty in Portugal, Greece, and Egypt sparked market volatility last week. Additional signs of a lagging Chinese economy also contributed. However, the U.S. added 195,000 jobs in June. Revised April and May totals included an additional 70,000 jobs for those two months. The unemployment rate held firm at 7.6%, as more workers entered the expanding labor […]

Market Summary – June 28

A decline in consumer spending and business investment prompted a revision of US GDP growth from 2.4% down to 1.8% in the first quarter. Markets rallied following this report, assuming a reprieve from rising rates. Durable goods orders rose 3.6% in May for the second straight month. Personal spending increased 0.3% and personal incomes rose […]

Market Summary – June 21

Fed Chairman Bernanke announced an end to monetary easing within the next 12 months, which caused markets to sell off. The Fed cited growing optimism on the economic outlook for 2014. They project that U.S. unemployment will fall to 6.5%‐6.8% next year from its current 7.6% level. Housing sector strength, growth in household wealth, and improving […]

Market Summary – June 14, 2013

Overall, major stock indices bounced around last week, with sharply higher volatility becoming the norm and bond yields have climbed broadly. Market volatility climbed last week as investors focused on the US Federal Reserve’s anticipated phasing out of its monetary stimulus program. Initial US jobless claims fell unexpectedly by 12,000 to a seasonally adjusted 334,000 […]

Market Summary – June 7, 2013

Domestic equities posted gains last week, while non‐U.S. markets dropped. Investors were concerned about the effectiveness of Japan’s economic stimulus efforts and the chance that the Fed might end its easing program. The U.S. economy added 175,000 jobs in May, and the unemployment rate rose to 7.6% as more Americans entered the labor force. Initial […]