Blog Post

Weekly Market Commentary – Battle Creek

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.
    • finished-gasoline
  • 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.

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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

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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.


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