What went up despite falling energy shares?
|Stocks ended last week higher, despite falling energy shares. The Dow and S&P 500 rose last Friday on the heels of June’s strong labor report. Of the indexes listed here, the Dow led the way followed by the Nasdaq and the Global Dow. The yield on 10-year Treasuries climbed closer to its 2016 closing value as long-term bond prices fell, sending yields higher.
The price of crude oil (WTI) closed at $44.30 per barrel, down from the prior week’s closing price of $46.33 per barrel. The price of gold (COMEX) decreased last week, closing at $1,212.00 by late Friday afternoon, down from the prior week’s price of $1,241.40. The national average retail regular gasoline price decreased for the fourth week in a row to $2.260 per gallon on July 3, 2017, $0.028 lower than the previous week’s price and $0.031 less than a year ago.
Chart reflects price changes, not total return. Because it does not include dividends or splits, it should not be used to benchmark performance of specific investments.
Last Week’s Economic Headlines
Eye on the Week Ahead
Trading is expected to pick up following the holiday-shortened week. Last week’s favorable employment report should quell investors’ concerns about a slowdown in job growth. This week, reports focusing on consumer spending and inflationary trends are out with the Producer Price Index, retail sales report, and The Consumer Price Index.
|Data sources: News items are based on reports from multiple commonly available international news sources (i.e. wire services) and are independently verified when necessary with secondary sources such as government agencies, corporate press releases, or trade organizations. Market data: Based on data reported in WSJ Market Data Center (indexes); U.S. Treasury (Treasury yields); U.S. Energy Information Administration/Bloomberg.com Market Data (oil spot price, WTI Cushing, OK); www.goldprice.org (spot gold/silver); Oanda/FX Street (currency exchange rates). All information is based on sources deemed reliable, but no warranty or guarantee is made as to its accuracy or completeness. Neither the information nor any opinion expressed herein constitutes a solicitation for the purchase or sale of any securities, and should not be relied on as financial advice. Past performance is no guarantee of future results. All investing involves risk, including the potential loss of principal, and there can be no guarantee that any investing strategy will be successful.
The Dow Jones Industrial Average (DJIA) is a price-weighted index composed of 30 widely traded blue-chip U.S. common stocks. The S&P 500 is a market-cap weighted index composed of the common stocks of 500 leading companies in leading industries of the U.S. economy. The NASDAQ Composite Index is a market-value weighted index of all common stocks listed on the NASDAQ stock exchange. The Russell 2000 is a market-cap weighted index composed of 2,000 U.S. small-cap common stocks. The Global Dow is an equally weighted index of 150 widely traded blue-chip common stocks worldwide. Market indices listed are unmanaged and are not available for direct investment.
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Prepared by Broadridge Investor Communication Solutions, Inc. Copyright 2017