AAM Weekly Market Wrap – April 18, 2022

Weekly Market Wrap: Stocks continued lower last week as consumer price inflation was the highest since 1981.

For The Week

  • The S&P 500 fell 2.02% to 4,397.59
  • Oil jumped 8.84% to $106.95
  • Gold gained 1.52% to $1,975.10
  • The US dollar added 0.50% at $100.34 against other major world currencies.

2022 Year-To Date for the major indexes:

  • The S&P Index -7.73%
  • The Dow Jones Index -5.19%
  • The NASDAQ Index -14.66%
  • The Russell 2000 Small Cap Index -10.70%
  • EAFE International Index -8.46%
  • 10 Year Treasury Yield is 2.83%, higher for the week and higher for the year
  • 30 Year Treasury Yield is 2.92%, higher for the week and higher for the year
  • WTI Crude Oil Index +42.20%
  • Bloomberg Gold Index +7.86%
  • The Dollar Index +4.97% against other major world currencies

Monday the S&P 500 dropped 76 points on moderate volume with no major data reported.

Tuesday stocks slipped 15 points on moderate volume as consumer prices rose and matched expectations while small business optimism fell.

Wednesday the S&P 500 rose 49 points on moderate volume as mortgage applications fell and producer prices rose more than expected.

Thursday stocks dropped 54 points on moderate volume as jobless claims rose a little more than expected, continuing claims were lower, import and export prices both rose, retail sales rose a little less than expected and consumer sentiment rose and beat.

Friday the markets were closed.

Mortgage rates were higher last week. The national averages as reported by Bankrate.com indicate a 15-year rate of 4.30% and a 30-year rate of 5.06%. These rates are as of 4/18/2022 and may include points.

What to watch for on the economic calendar this week:

Monday – Homebuilder Sentiment

Tuesday – Building Permits and Housing Starts

Wednesday – Mortgage Applications / Existing Home Sales

Thursday – Jobless Claims / Leading Indicators

Friday – No major data

Ronald J. VanSurksum, CFP®
Advanced Asset Management, LLC

April 18, 2022

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