Blog Post

Weekly Market Update – Southwest Michigan

U.S. Stocks showed little change this past week with the S&P 500 up slightly, the Dow 30 up sharply and the Nasdaq 100 down.  There was little change from the FED as the announcement indicated they may start unwinding the balance sheet soon and likely not raise short term rates until December.   10-year Treasury yields were down slightly as well as the dollar.  Commodities, particularly oil were higher.

In the numbers, this week:

  • Factset reported with 57% of the S&P 500 companies reporting the blended earnings growth rate is 9.1%.
  • The Commerce Department reported:
    • New-home sales rose 0.8% in June.  From a year earlier, new-home sales were up 9.1%.
    • Durable goods order rose 6.5% in June.
    • The U.S. trade deficit fell 3.7% in June.
    • The U.S, Gross Domestic Product grew, the broadest measure of growth, grew at a 2.6% annual pace in the second quarter.
  • The Labor Department reported
    • First time claims for unemployment rose 10,000 to a seasonally adjusted 244,000.  The four-week moving average of claims was unchanged at 244,000.
  • The Energy Information Administration’s Weekly Petroleum Data report is herewpsrsummary.
  • The Energy Information Administration reported
    • Weekly field production of crude oil fell 19,000 barrels per day in the prior week.
    • Natural gas in storage rose 17 Bcf last week from the prior week.
  • Baker Hughes reported that oil drilling rigs rose 2 to 766.  Gas drilling rigs rose 6 to 196.

Please call us if you have any questions.

Best Regards,

Loren C. Rex, CFP®, AIF®, MA                                                              Erik Smith

President                                                                                                      Managing 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:  866-381-2301

Visit our Website:

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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