2020 came to a close. Market Indices were mixed for the week with substantial gains in emerging markets and a loss for the Dow Industrials. $600 stimulus payments began being sent to eligible individuals. The Senate has not moved to increase the amount to $2,000.
Treasury yields fell with the 30-year bond yield closing at 1.649% and the 10-Year note at 0.919%. Crude oil rose to $48.44 a barrel while natural gas fell to $2.535 per MMBTUs. The U.S. dollar index fell to 89.94 and gold prices rose to $1903.60 an ounce.
In the economic numbers this week:
- Mastercard spending pulse reported that U.S. retail sales rose 2.4% between November 1st and December 24th from the same period last year.
- The S&P CoreLogic Case-Shiller National Home Price Index rose 8.4% in October from a year ago.
- The Labor Department reported:
- A seasonally adjusted 787,000 workers filed initial claims for unemployment in the week ending December 26th. This was down 19,000 from a revised 809,000 the week before.
- The 4-week moving average, designed to smooth out volatility, was 836,750, an increase of 17,750 from the previous week’s revised average.
- Continuing claims fell from 5.3MM to 5.2MM in the week of December 19th
- A broader measure of claims including extended benefits, pandemic assistance and other programs fell from 20.3MM to 19.6MM as of December 12th.
- For the full report go here: https://www.dol.gov/ui/data.pdf .
- The EIA weekly oil report is here: http://ir.eia.gov/wpsr/wpsrsummary.pdf . Also, the EIA reported in the past week:
- Field production of crude oil was unchanged at 11.0MM barrels per day.
- Natural gas storage fell 114BN cubic feet and is above the average level at this time of year during the past five years.
- Baker Hughes reported the number of active oil rigs rose 3 to 267. The number of active natural gas rigs was unchanged at 83.
Please call us if you have any questions.
Loren C. Rex, CFP®, AIF®, MA Erik A Smith AIF®
President Managing Partner
Generations Financial Planning & Wealth Management 269-441-4143
77 E. Michigan Ave, Suite 140
Battle Creek, MI 49017
Carrie Fuce, Assistant 269-441-4091
Toll Free: 800-513-8180
Visit our Website: www.genfinplan.com
Registered Representative of and securities offered through Cambridge Investment Research, Inc., a Broker/Dealer, Member FINRA/SIPC. Investment Advisor Representative, Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Cambridge and Generations Financial Planning & Wealth Management are separate companies and are not affiliated.
These are the opinions of Loren Rex and Erik Smith and are not necessarily those of Cambridge, are for informational purposes only, and should not be construed or acted upon as individualized investment advice. The Indices mentioned are unmanaged and cannot be invested into directly.