US and foreign stocks ended lower this week. The FED minutes from their September meeting were released Wednesday and indicated that the likelihood of a December rate hike were increasing. The markets were spooked on Thursday as China reported exports were down 10% in September from a year earlier. However, the markets were relieved on Friday that producer prices were positive year over year for the first time in four years. The U.S. Treasury yield ended higher as did the dollar. Commodities were largely unchanged.
In the numbers this week:
- China’s General Administration of Customs reported that exports have fallen 10% year over year. Imports have fallen 1.9% over the past year.
- The Commerce Department reported retail sales rose 0.6% in September. Excluding gasoline and autos retail sales rose 0.3%.
- The U.S. Energy Information Administration reported in the prior week:
- Crude oil inventories rose 4.9MM barrels.
- Daily Crude oil production fell 17,000 barrels.
- Gasoline inventories decreased 1.9MM barrels.
- Baker Hughes reported that the number of oil drilling rigs increased 4 to 432 in the prior week. The number of gas rigs increased 11 to 105.
- The Labor Department reported
- First time claims for unemployment were unchanged at 246,000. The previous week was revised from 249,000 to 246,000. The four week moving average of claims fell 3500 to 249,250.
- The producer price index rose 0.3%. Excluding volatile food and energy prices rose 0.2%.
- Import prices rose 0.1% in September.
Please call us if you have any questions.
Best Regards,
Loren C. Rex, CFP®, AIF® Erik Smith
President Partner
Generations Financial Planning & Wealth Management 269-441-4143
77 E. Michigan Ave, Suite 140
Battle Creek, MI 49017
Tel 269-441-4090
Carrie Fuce, Assistant 269-441-4091
Toll Free: 800-513-8180
Fax 269-441-4093
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.
