This week was a good one for the US capital markets with all major indicies advancing. The Russell 2000 led the way with a weekly gain of +1.9%, followed closely by the Nasdaq at +1.7%. Year to date, the S&P 500 is +7.5%. Small cap stocks outperformed large cap stocks, and growth stocks were stronger than value stocks.
In looking at the specific sectors, energy had a strong week at +2.4%, while consumer staples lagged at -1.8% for the week. Information technology had a strong weekly gain of +1.7% and is now up +17.6% year to date.
Commodities rebounded a bit with the Bloomberg Commodity Index up +0.4%. Gold was up +1.8% for the week, closing at $1,206 per ounce. Silver was flat for the week, closing at $14.82 per ounce. Oil had a big week, posting a gain of +5.1% and closed at $68.57 per barrel (West Texas Intermediate).
In political and economic news, the fed hinted toward a rate increase next month, which should be another +0.25% to the federal fund rate, but this is already built into the market. The increasing interest rates are having an effect on the homeowners market, as sales fell again for the month of July due to buyers being priced out of the market. The trade war between US and China may begin to ease slightly as talks began in Washington between the two countries. Personally, I do not feel like there will be much give on either side, so this may not result in much movement. President Trump saw two former key people in his inner circle be dealt legal blows, but it remains to be seen if any of the issues will ultimately turn into an impeachable issue for the President. Personally, I think there would be some volatility around a president Trump impeachment, but would not expect any significant correction or losses as Vice President Pence seems to be market friendly.
Cryptocurrencies had a mixed week. Bitcoin did well, and was up +4.4% for the week, currently at $6,640. Steem ping ponged around and is currently at $0.88, which was flat for the week. EOS struggled, posting a weekly loss of -6.7%, currently at $4.89.
Overall, the US capital markets are doing well and returns are there for those who have stayed invested.
Let me know in the comments that you stopped by!
Take care,
Brian
The greatest news was dumped at 11pm on Friday night when Tesla confirmed they were not going private! I cannot wait to see what happens to the stock when it opens tomorrow morning. It's gonna be a wild ride. I regret not shorting Tesla at 370 after Musk claimed he had the funding. I knew he was bluffing but I couldn't quite bring myself to put money on my suspicion.
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A bit volatile today but nothing too crazy... your long right? I actually think the huge short position is an asset at this point as it limits the downside and they will have to cover at some point so the longer the stock trends up or stays sideways, the greater likilood of some shorts throwing in the towel or covering on any dips.
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Such a valuable US market review. Pleased to know that US capital markets are doing well. We always expect a strong market. Crypto market is struggling. Maybe we have to wait few more months. After all Bitcoin doing well. Thanks a lot sir @brain.rrr for the helpful market analysis.
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Did you here the Venezuelan dollar value dropped 90%
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Thank you for your weekly summary of the markets. Well done!
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really very great market anylysis of every week.this general view is very important to understand what is happening in economy.its very good news again this markets with all major indicies advancing.thanks to sharing for your market review post..very well done..my dear friend.. may god bless you @brian.rrr
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Upvoted by @teenagecrypto a bot by @tornadoman
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Great market analysis. Your beautful market analysis always enhance our knowledge.
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Hello, very good information extraordinary class of economy that amazes and astonishes illustrating us to the little connoisseurs of the subject. I congratulate you . I vote for you, I invite you to visit my blog. Thank you.
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A very precise and well written article. Congrats. We need all the economic info to make smart decisions on the market.
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As always, you are giving a clear, precise report. Great job.
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Us capital is always high market price baring
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Welcome.
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One can trust the market so we must stay here invested and active.
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Hii brian
I m new in steemit
Pls vote me
Thank you
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