MARKET STATISTICS
Weekly and Year-To-Date Performance
INDEX 12/31/2016 10/06/2017 10/13/2017 % Change Week % Change YTD
 Dow Jones Industrial Average  19,762.60 22,773.67 22,871.72  0.43% 15.73%
 S&P 500  2,238.84 2,549.33  2,553.17  0.15% 14.04%
 Nasdaq Composite  5,382.70 6,590.18  6,504.73  0.22% 22.70%
 Russell Mid-Cap Index  1,783.06 1,9990.77  1,994.67  0.20% 11.87%
 Russell Small-Cap Index  1,356.36 1,510.23  1,502.74 -0.50% 10.79%

 

October 13th, 2017

Dear Friends,

For the week the Dow Jones Industrials, S&P 500 and the Nasdaq were slightly positive at 0.4%, 0.2% and .2% respectively. The Russell Mid-Cap, Small-Cap and the MSCI EAFE finished at +0.2%, -0.5% and 1.7% respectively.

The markets opened the week Monday with modest losses in light trading with the bond market closed for Columbus Day.  The technology sector closed up 0.25% as Microsoft, Apple and Intel added 0.38%, 0.35% and 0.58%.  Financials closed down 0.38% as Bank of America, Goldman Sachs and JPMorgan fell 1.37%, 1.31% and 0.53%.  Crude oil prices gained 0.55% to close at $49.56 per barrel.  The energy sector finished up 0.32% as shares of Chevron and Exxon rose 0.58% and 0.39%.  The Dow closed down 13 points or 0.06%, at 22,761.  The S&P and the Nasdaq were off 0.18% and 0.16%.

Stocks made another moved higher Tuesday and the blue-chip Dow closed at a new high.  Shares of Wal-Mart led the Dow higher rising 4.47% to reach a two-year high after issuing positive sales guidance.  The consumer staples index climbed nearly 1%.  Crude prices closed up almost 2% and the energy sector added 0.11%.  Shares of Chevron, BP and ConocoPhillips rose 0.93%, 0.9% and 0.53%.  Financials closed higher as well ahead of a number of key earnings reports.  Shares of Bank of America, JPMorgan, and Morgan Stanley added 0.27%, 0.77% and 0.2%.  The Dow added 70 points or 0.31%, to settle at 22,831.  The S&P and the Nasdaq gained 0.23% and 0.11%.

The markets finished with modest gains Wednesday following the release of the Fed’s meeting minutes which confirmed expectations of a rate hike.  Financials finished down 0.19% as shares of Bank of America, Citigroup and JPMorgan fell 0.39%, 0.32% and 0.30%.  The tech sector finished to the upside gaining 0.33% as shares of Alphabet, Facebook, Apple and Amazon rose 1.71%, 0.67%, 0.42% and 0.79%.  Elsewhere shares of AT&T fell 0.81% after warning of lower revenue and profits in the third quarter following the hurricanes.  The Dow finished up 42 points or 0.18%, settling at 22,873.  The S&P and the Nasdaq added 0.18% and 0.25%.  Crude oil price rose 0.2% closing at $51.02 per barrel.

The U.S. stock market heralded the beginning of third-quarter earnings season by finishing slightly lower on Thursday, even as Wall Street banks turned in generally upbeat results.  The Dow fell 31.88 points or 0.1%, the S&P500 shed 0.2%, while the Nasdaq Composite dropped 0.2%.  Banks kicked off what is likely to be strong season of third-quarter corporate results.  On the data front initial weekly jobless claims fell by 15,000 to 243,000 in early October to mark the lowest level in six weeks.  The Producer-price-index rose 0.4%, matching consensus expectations.

Stocks were higher Friday as traders bet on another strong earnings season.  The Dow traded up 30points, the S&P500 2points, and  the Nasdaq Composite up 13 points.  Shares of Bank America rose on revenues and earnings that topped expectations, on the heels of JP Morgan and Citigroup which posted stronger-than-expected results on Thursday.  Wall Street also digested lighter-than-expected economic data in the form of inflation and retail sales numbers.  The consumer price index rose 0.6% last month, below the expected 0.7%.  Retail sales, meanwhile, gained 1.6%, below analyst expectations of 1.7%.  Treasury yields fell on the news, with the benchmark 10-year yield trading at 2.28%.

-Sonata