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Compass Financial Advisors

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US Stock Markets Ended May 11, 2018

 The S&P 500 posted its first weekly gain in the past three weeks with a 2.49% return and the best weekly gain over the past two months. Investors are more confident that inflation will remain at bay after trade tensions have eased with the rest of the world. The US dollar exhibited a calmer week as it was little changed, while the 10-year treasury steadied under 3%. Volatility is still present in other markets, with oil bouncing off highs not reached since the end of 2014. In turn, energy stocks traded higher to post the best weekly gain in the S&P 500. The group was led by Occidental Petroleum and Devon Energy which are both involved in exploration and production of crude. The gains in oil were spurred by President Trump's decision to quit the Iran nuclear deal. A bullish feeling fell over the market this week after a plethora of US companies posted quarterly results that beat analyst estimates. The sentiment emanated from executives less cautious feelings concerning inflation, rising global interest rates, and trade wars with foreign countries; specifically China. Foreign relations around the globe seem to be improving every day, but Iran and Syria are still rife with conflict. Emerging stocks rallied around the news of a June 12th meeting between Kim Jong Un and President Donald Trump in Singapore. The release of three US prisoners from North Korea to the United States was an outward motion to the world that North Korea is willing to put aside a long held grudge against the West. Looking ahead to next week, the state of the economy will be on display with releases of mortgage, retail sales, and housing data.

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Latest Market News

 Stocks fell for the week as investors grappled with higher bond yields, political risks around the globe, trade tensions and higher energy prices. The real estate and utilities sectors, which tend to be bond proxies due to their high dividend yields, lost over 2% for the week. By contrast, the materials and energy sectors posted the biggest gains as investors are starting to price in higher inflation expectations. In economic news, retail sales rose 0.3% in April, in-line with forecasts, as higher paychecks from tax-cuts offset rising fuel costs. In stock news, both Walmart Inc.

 Treasury prices dropped moderately over the course of the week on strong economic data and speculation that both the Federal Reserve and European Central Bank may raise interest rates more quickly than previously expected. On Tuesday, April Advance Retail Sales were solid while March sales figures were revised to 0.8%, and May Empire Manufacturing was higher than expected, causing a risk-on environment which led to a significant drop in Treasury prices. It was also reported on Tuesday that the U.S.

 View from the Observation Deck  

Securities offered through Harbour Investments, Inc.,
member FINRA/SIPC. http://www.finra.org/
http://www.sipc.org/about-sipc

Investment Advisory Services offered through
Compass Financial Advisors, LLC,
a registered Advisor. 
Compass Financial Advisors, LLC &
Harbour Investments, Inc.
are separate entities.

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