Stocks and long-term bond yields fell again last week as fears of an economic slowdown, both here and abroad, worried investors. Despite a solid labor report, unfavorable reports from domestic and global manufacturers, and an expanding trade deficit apparently shook investors. Of the benchmark indexes listed here, only the tech-heavy Nasdaq posted a weekly gain, bolstered by gains in information technology shares. The Global Dow was hit the hardest, falling almost 2.0%, followed by the small caps of the Russell 2000, the Dow, and the S&P 500, each of which posted weekly losses for the third consecutive week.
Oil prices fell again last week, closing at $53.01 per barrel by late Friday afternoon, down from the prior week’s price of $56.00. The price of gold (COMEX) rose last week, closing at $1,510.30 by late Friday afternoon, up from the prior week’s price of $1,503.10. The national average retail regular gasoline price was $2.642 per gallon on September 30, 2019, $0.012 less than the prior week’s price and $0.224 less than a year ago. Click here for more Winthrop Partners Weekly Update 10-7-19