US Stocks finished lower and volatility rose as tensions flared over North Korea. Foreign stocks generally fell more, especially in South Korea. Ten-year Treasury yields fell to 2.19% as a safe haven and the U.S. dollar weakened. Commodities were mixed with gold higher and oil lower.
In the numbers, this week:
- Factset reported with 91% of S&P 500 companies reporting, the average earnings increase from a year ago was 10.2%.
- China’s consumer prices were 1.4% higher in July from a year ago. This was down from 1.5% year over year in June. China’s target for inflation is 3.0%.
- The Commerce Department reported consumer spending rose 0.1% in June.
- The Labor Department reported
- First time claims for unemployment rose 2,000 to a seasonally adjusted 244,000.
- The consumer price index rose 0.1% in July. Excluding volatile food and energy, prices also rose 0.1%.
- Non-farm business sector productivity rose at a 0.9% annual pace in the second quarter. This follows a 0.1% pace in the first quarter. From a year ago, productivity rose 1.2%.
- The Energy Information Administration’s Weekly Petroleum Data report is attached.
- The Energy Information Administration reported
- Weekly field production of crude oil fell 4,000 barrels per day in the prior week.
- Natural gas in storage rose 28 Bcf last week from the prior week.
- Baker Hughes reported that oil drilling rigs rose 3 to 768. Gas drilling rigs fell 8 to 181.
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: 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.
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