Blog Post

Weekly Market Update – Southwest Michigan

Large company stocks had modest gains in this holiday shortened week.  Small company stocks and international stocks had significant gains.  The 10-year treasury note was nearly unchanged.  The U.S. Dollar was weaker and crude oil prices hit a two year high.  This coming week will be the OPEC meeting which may or may not extend the production cuts beyond the end of March.  Also, Congress will return from the Thanksgiving break so there may be action surrounding the proposed tax changes.

In the numbers, this week:

  • The National Association of Realtors reported that existing home sales rose 2% in October from September.  That is 0.9% below October 2016.  The sluggish sales was attributed mostly to lack of supply, not demand.
  • The Labor department reported:
    • Initial claims for unemployment in the prior week fell 13,000 to a seasonally adjusted 239,000.  The four-week moving average of claims rose 1,250 to 239,750.  The increase was attributed to a backlog of claims in Puerto Rico.
  • The Commerce Department reported:
    • Orders for durable goods decreased 1.2% in October.  This follows a 2.2% increase in September.  Non-defense capital goods orders fell 0.5% in October but was up 4.4% for the first 10 months of this year compared to the same period last year.
  • The Energy Information Administration’s Weekly Petroleum Data report is here: wpsrsummary (11).  In addition, the EIA reported:
    • Weekly field production of crude oil rose 13 thousand barrels per day in the prior week.
    • Natural gas in storage fell 46Bcf last week from the prior week.  Storage levels are in the bottom half of the average range for this time of year.
  • Baker Hughes reported that oil drilling rigs rose 9 to 747.  Gas drilling rigs fell 1 to 176.

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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