Weekly Vantage Point
September 11, 2017–U.S. stocks finished the holiday-shortened trading week modestly lower, as Wall Street investors remained cautious ahead of a possible North Korean ballistic missile test and the weekend arrival of Hurricane Irma in southern Florida. Energy and technology companies tumbled on Friday.
August 28, 2017–U.S. stocks rebounded from two days of selling on Friday, but still recorded the strongest weekly performance in over a month. Friday’s rebound was sparked by comments within Fed Chair Janet Yellen’s Jackson Hole, Wyoming speech which were not as hawkish as many economists had expected.
August 7, 2017–U.S. stocks advanced on Friday following a stronger-than-expected July payrolls report with non-farm jobs up 209,000 last month, topping economists’ consensus forecast by 29,000. The U.S. dollar strengthened as wage growth rose 0.3% (the largest increase in five months) and new manufacturing jobs exceeded projections.
July 31, 2017–U.S. stocks ended mostly lower Friday, as an outsized earnings miss by a leading online retailer rattled global investors, offsetting optimism from an in-line second quarter GDP report. Only the Dow Industrials ended positive on Friday and for the week, reaching new all-time highs for three consecutive sessions.
July 17, 2017–U.S. stocks advanced Friday, pushing the S&P 500 and Dow Industrials to new all-time highs for the first time in a month, as investors interpreted weak retail sales and inflation data as a sign that interest rates will remain lower for longer. The June consumer price index was unchanged, missing expectations for a 0.1% rise after a 0.1% decline in May.