Winthrop Partners Weekly Update 7-1-19

With a strong close last Friday, stocks recovered most of the losses endured earlier last week. Only the Russell 2000 posted a weekly gain and has climbed over 16% year-to-date. The other benchmark indexes listed here lost value, but not as much as it could have been. The Dow had the worst week, falling almost 0.50%, followed by the Nasdaq, the S&P 500, and the Global Dow, which fell 0.23%. Investors may be waiting for the meeting between President Trump and Chinese President Xi Jinping at the G20 meeting in Japan, which began late last Friday evening, New York time. The yield on 10-year Treasuries actually dipped below 2.0% earlier last week, ultimately closing at 2.0% by late last Friday. Investors purchased the Treasuries in large volumes, driving prices higher and, correspondingly, yields lower.
Oil prices rose to $58.16 per barrel by late Friday afternoon, up from the prior week’s price of $57.60. The price of gold (COMEX) continued to climb last week, reaching $1,413.30 by late Friday afternoon, up from the prior week’s price of $1,402.70. The national average retail regular gasoline price was $2.654 per gallon on June 24, 2019, $0.016 lower than the prior week’s price and $0.179 less than a year ago.  Click here to read the rest: