The Market Week In Review

Despite lower-than-expected jobs data, the U.S. stock market ended the week mostly higher amid further trade optimism.  Interest rates also moved higher over the course of the week as the 10-year Treasury yield rose from 1.78% to 1.83%.  The price of gold rose a slight 0.38% to $1,561 an ounce while crude oil dropped 6.35% to $59.03 a barrel as President Trump said he believes Iran is “standing down” from its retaliation on the U.S.

This Week's Economic Highlights

  • The U.S. trade deficit fell by a sharp 8% in November to a three-year low of $43.1 billion, as Chinese imports declined and U.S. oil exports increased. More specifically, total U.S. exports rose by 0.7% to $208.6 billion while imports fell by 1.0% to $251.7 billion.

  • The ISM non-manufacturing index, a measure of service-orientated companies, rose from 53.9% in November to 55.0% in December. Readings above 50% indicates positive growth for service-orientated companies while 55% and higher is seen as exceptional.

  • Initial unemployment claims dropped by 9,000 for the week ending January 4th to a seasonally-adjusted total of 214,000. Meanwhile the typically more stable four-week average of initial claims dropped by 9,500 to 224,000.

  • The U.S. added a lower-than-expected 145,000 jobs in December after jumping by 256,000 the month prior. However, the unemployment rate held steady at a historically low 3.5%.  Wage growth also came in lower than expected as its annual rate dropped to 2.9%.


“Time is more important than price.  When time is up price will reverse.

     – W.D. Gann

Important Disclosures:  Please remember that past performance may not be indicative of future results.  Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product made reference to directly or indirectly from The Market Commentator℠, will be profitable, equal any corresponding indicated historical performance level(s), or be suitable for your portfolio.  Due to various factors, including changing market conditions, the content may no longer be reflective of current opinions or positions.  Moreover, you should not assume that any discussion or information contained in The Market Commentator℠ serves as the receipt of, or as a substitute for, personalized investment advice from The Milwaukee Company™.

In addition, The Market Commentator℠ may contain links to articles or other information that are contained on a third-party website.  The Milwaukee Company does not endorse or accept responsibility for the content, or the use, of the website.  The Milwaukee Company assumes no liability for any inaccuracies, errors or omissions in or from any data or other information provided on the pages.  Thank you.

Spread the love

Leave a Reply

Your email address will not be published. Required fields are marked *