Stocks ended the week with modest gains. The FED released their minutes from last month’s meeting and indicated they saw little need to raise interest rates this year. First quarter earnings have started to be released and this will continue for several weeks. Stocks were bolstered on Friday by some positive financial company earnings.
The dollar declined against a basket of currencies. Oil prices gained and gold ended the week lower. The 10-year treasury bond yield rose to 2.55%
In the numbers this week:
- The International Monetary Fund reduced its 2019 global growth estimate from 3.5% to 3.3%.
- China reported a 14.2% increase in exports in March from a year earlier while imports fell 7.6%.
- The Labor Department reported
- First time claims for unemployment fell 8,000 to a seasonally adjusted 196,000, the lowest level since October 1969 when the workforce was much smaller. The four week moving average of claims fell to 207,000.
- The consumer price index rose 0.41% in March mainly due to a 3.5% rise in energy prices. Excluding volatile food and energy, prices rose just 0.15%. From a year earlier consumer prices were 1.9% higher and 2.0% excluding food and energy.
- Producer prices rose 0.6% in March. Excluding volatile food and energy, producer prices rose 0.3%. For the past 12 months producer prices rose 2.2% and 2.4% excluding food and energy.
- The Energy Information Administration weekly report is here wpsrsummary . Also, the EIA reported in the prior week:
- U.S. Crude oil production was unchanged at 12.1MM barrels per day.
- Storage of natural gas rose 25BN cubic feet.
- Baker Hughes reported in the past week that the number of active oil rigs fell 2 to 829 and the number of active gas rigs fell to 189.
Please call us if you have any questions.
Loren C. Rex, CFP®, AIF®, MA Erik A Smith
President Managing Partner
Generations Financial Planning & Wealth Management 269-441-4143
77 E. Michigan Ave, Suite 140
Battle Creek, MI 49017
Carrie Fuce, Assistant 269-441-4091
Toll Free: 800-513-8180
Visit our Website: www.genfinplan.com
Registered Representative of and securities offered through Cambridge Investment Research, Inc., a Broker/Dealer, Member FINRA/SIPC. Investment Advisor Representative, Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Cambridge and Generations Financial Planning & Wealth Management are separate companies and are not affiliated.
These are the opinions of Loren Rex and Erik Smith and are not necessarily those of Cambridge, are for informational purposes only, and should not be construed or acted upon as individualized investment advice. The Indices mentioned are unmanaged and cannot be invested into directly.