Blog Post

Weekly Market Update – Southwest Michigan

U.S. and foreign stocks had significant gains this week.  Federal Reserve Chairwoman, Janet Yellen said inflation should rebound but that the Fed could alter its policy if inflation persists.  The markets seemed to take this positively.  Q2 Earnings season started with several large banks reporting earnings but a couple cautioned about earnings going forward.  The Treasury yield curve flattened with short term rates rising more than long term rate.  Crude oil rose but most other commodities were flat and the dollar weakened.

In the numbers, this week:

  • The Federal Reserve reported that outstanding consumer credit rose at a 5.78% seasonally adjusted annual rate in May.  Revolving credit (mostly credit cards) rose 8.7% and nonrevolving credit rose 4.7%.
  • The Bank of Canada raised its key interest rate 0.25% to 0.75% for the first time in 7 years
  • The Federal Reserve reported that consumer credit rose $18.41 in May.  Revolving credit rose at a 8.7% annual pace and Nonrevolving credit rose at a 4.7% annual pace.
  • The Commerce Department reported:
    • Retail sales fell a seasonally adjusted 0.2% in June after falling 0.1% in May.  Excluding autos sales fell 0.2% and excluding both autos and gasoline retail sales fell 0.1%.  For the second quarter retail sales grew only 0.2% from the first quarter.
  • The Labor Department reported
    • First time claims for unemployment fell 3,000 to a seasonally adjusted 247,000.  The four-week moving average of claims rose 2,250 to 245,750.
    • Producer prices for final demand rose a seasonally adjusted 0.1%.  Food prices rose 0.6% and energy prices fell 0.5%.  From a year ago, producer prices rose 2.0%.
  • The Energy Information Administration’s Weekly Petroleum Data report is here wpsrsummary (18).
  • The Energy Information Administration reported
    • Weekly field production of crude oil rose 147,000 barrels per day in the prior week.
    • Natural gas in storage rose 57 Bcf last week from the prior week.
  • Baker Hughes reported that oil drilling rigs increased 2 to 765.  Gas drilling rigs fell 2 to 183.

Please call us if you have any questions.

Best Regards,

Loren C. Rex, CFP®, AIF®, MA                                                              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:  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.


If you are serious about planning for your future, we want to meet with you. We ask that you provide us with some basic information so we can assess your needs and schedule a meeting. Please follow the link below to complete our survey.