U.S. Stocks ended the week mixed with the Dow and the S&P 500 off slightly and the Nasdaq index posting gains. Foreign stocks were generally higher. The 10-year treasury yields were lower and the dollar fell modestly. Oil prices were down slightly, natural gas prices rose as did precious metals rose.
In the numbers this week:
- The Eurozone reported that unemployment in November remained unchanged at 9.8%.
- The Energy Information Administration weekly report is attached.
- Baker Hughes reported that oil drilling rigs fell by 7 to 522. Gas drilling rigs rose 1 to 136.
- The Labor Department reported that initial claims for unemployment rose 10,000 to a seasonally adjust 247,000. The four-week moving average of claims fell 1,750 to 256,500.
- The Commerce Department reported that retail sales rose 0.6% in December. Excluding automobile dealers and gas stations retail sales were flat. For the year 2016 retail sales rose 3.3%.
- China’s customs administration reported that in 2016 exports fell 7.7% and imports declined 5.5%. China’s trade surplus was $510BN less than the $594BN in 2015.
- Destatis reported Germany’s gross domestic product grew 1.9% above inflation in 2016. Inflation came in at 0.3% in 2016 and is forecast to hit 1.7% in 2017.
Please call us if you have any questions.
Loren C. Rex, CFP®, AIF®, MA Erik Smith
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. Indices mentioned are unmanaged and cannot be invested into directly. Past performance is not a guarantee of future results