The U.S. stock market closed the week at all-time highs, despite the spread of the coronavirus, as overall strong corporate earnings and positive economic data lift the market higher.  Interest rates were virtually unchanged on the week as the 10-year treasury yield rose from 1.58% to 1.59%.  Although the markets have shrugged-off concerns on the spread of the coronavirus, the price of gold did not as it rose 0.8% to $1,587 an ounce.  Meanwhile, the price of crude oil jumped 3.7% to $52.25 a barrel amid reports of oil purchases by Chinese refineries. This Week’s Economic Highlights Initial unemployment claims…

Highlights The Richest Man in Babylon is a compilation of fictional short stories first published in 1926 that continues to provide valuable insight on achieving your financial goals. Regarded by many as a timeless classic of financial literature, this easy-to-read book reveals a simple system that allowed Arkad, a camel dealer in ancient Babylon, to go from a poor scribe to the city’s richest man. The Richest Man in Babylon offers valuable guidance for creating, growing, and protecting wealth — lessons that can be adapted to our modern financial system. “Our wise acts accompany us through life to please us…

Coronavirus hopefulness, overall positive corporate earnings, and China’s announcement to cut $75 billion of tariffs on U.S. goods drove the stock market higher after its pullback last week.  Consequently, interest rates also moved higher as the 10-year treasury yield rose from 1.52% last week to 1.58% today.  The price of gold fell by 1.2% to $1,574 an ounce amid the hopefulness surrounding a coronavirus vaccine.  The price of crude oil dropped by 2.5% on the week amid a slowdown in global energy demand. This Week’s Economic Highlights The ISM manufacturing index rose from 47.8% to 50.9% in January, its first…

Highlights The U.S. economy remains resilient as a strong consumer and jobs market outweighs a slowing manufacturing sector. The global stock market started off the year strong amid a ‘Phase 1’ trade deal between the U.S. and China, but was then hindered by fears of the coronavirus. The Fed left key short-term rates unchanged, as expected, but long-term rates fell dramatically as investors fear for the coronavirus’s potential impact on the global economy. Economic Review The U.S. economy, as measured by GDP, grew at a moderate 2.1% annualized rate in the fourth quarter of 2019, as consumer spending (which accounts…