While not as robust as the prior week, stocks still managed to post gains for the second week in a row. Last week started off with a bang for the benchmark indexes listed here, only to slip lower by Friday as tensions in the Middle East mounted. After getting pummeled in May, stocks have slowly regained some momentum during the early part of June. Year-to-date gains for each of the indexes listed here are in double digits, except for the Global Dow, which is off by less than half a percentage point. Oil prices slipped again last week, while long-term bond yields remained relatively unchanged.
Oil prices decreased to $52.51 per barrel by late Friday, down from the prior week’s price of $54.04. The price of gold (COMEX) fell last week, dropping to $1,344.80 by Friday evening, down slightly from the prior week’s price of $1,345.00. The national average retail regular gasoline price was $2.732 per gallon on June 10, 2019, $0.075 lower than the prior week’s price and $0.179 less than a year ago.
Market/Index | 2018 Close | Prior Week | As of 6/14 | Weekly Change | YTD Change |
---|---|---|---|---|---|
DJIA | 23327.46 | 25983.94 | 26089.61 | 0.41% | 11.84% |
Nasdaq | 6635.28 | 7742.10 | 7796.66 | 0.70% | 17.50% |
S&P 500 | 2506.85 | 2873.34 | 2886.98 | 0.47% | 15.16% |
Russell 2000 | 1348.56 | 1514.39 | 1522.50 | 0.54% | 12.90% |
Global Dow | 2736.74 | 2990.88 | 2998.79 | 0.26% | 9.58% |
Fed. Funds target rate | 2.25%-2.50% | 2.25%-2.50% | 2.25%-2.50% | 0 bps | 0 bps |
10-year Treasuries | 2.68% | 2.09% | 2.09% | 0 bps | -59 bps |
Chart reflects price changes, not total return. Because it does not include dividends or splits, it should not be used to benchmark performance of specific investments.
The Federal Open Market Committee meets this week. Although the stock market has bounced back some, inflation remains stagnant and ongoing economic pressures from the trade war with China are likely to discourage an interest rate hike.
Data sources: News items are based on reports from multiple commonly available international news sources (i.e. wire services) and are independently verified when necessary with secondary sources such as government agencies, corporate press releases, or trade organizations. Market data: Based on data reported in WSJ Market Data Center (indexes); U.S. Treasury (Treasury yields); U.S. Energy Information Administration/Bloomberg.com Market Data (oil spot price, WTI Cushing, OK); www.goldprice.org (spot gold/silver); Oanda/FX Street (currency exchange rates). All information is based on sources deemed reliable, but no warranty or guarantee is made as to its accuracy or completeness. Neither the information nor any opinion expressed herein constitutes a solicitation for the purchase or sale of any securities, and should not be relied on as financial advice. Past performance is no guarantee of future results. All investing involves risk, including the potential loss of principal, and there can be no guarantee that any investing strategy will be successful.
The Dow Jones Industrial Average (DJIA) is a price-weighted index composed of 30 widely traded blue-chip U.S. common stocks. The S&P 500 is a market-cap weighted index composed of the common stocks of 500 leading companies in leading industries of the U.S. economy. The NASDAQ Composite Index is a market-value weighted index of all common stocks listed on the NASDAQ stock exchange. The Russell 2000 is a market-cap weighted index composed of 2,000 U.S. small-cap common stocks. The Global Dow is an equally weighted index of 150 widely traded blue-chip common stocks worldwide. Market indices listed are unmanaged and are not available for direct investment.
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