U.S. Stocks showed little change this past week with the S&P 500 up slightly, the Dow 30 up sharply and the Nasdaq 100 down. There was little change from the FED as the announcement indicated they may start unwinding the balance sheet soon and likely not raise short term rates until December. 10-year Treasury yields were down slightly as well as the dollar. Commodities, particularly oil were higher.
In the numbers, this week:
- Factset reported with 57% of the S&P 500 companies reporting the blended earnings growth rate is 9.1%.
- The Commerce Department reported:
- New-home sales rose 0.8% in June. From a year earlier, new-home sales were up 9.1%.
- Durable goods order rose 6.5% in June.
- The U.S. trade deficit fell 3.7% in June.
- The U.S, Gross Domestic Product grew, the broadest measure of growth, grew at a 2.6% annual pace in the second quarter.
- The Labor Department reported
- First time claims for unemployment rose 10,000 to a seasonally adjusted 244,000. The four-week moving average of claims was unchanged at 244,000.
- The Energy Information Administration’s Weekly Petroleum Data report is herewpsrsummary.
- The Energy Information Administration reported
- Baker Hughes reported that oil drilling rigs rose 2 to 766. Gas drilling rigs rose 6 to 196.
Please call us if you have any questions.
Loren C. Rex, CFP®, AIF®, MA Erik 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.