AAM Weekly Market Wrap – January 3, 2022

Weekly Market Wrap: The S&P 500 finished 2021 on a high note recording 70 record highs throughout the year.

For The Week

  • The S&P 500 added 0.85% to 4,766.18
  • Oil gained 1.92% to $75.21
  • Gold rose 1.18% to $1,831.20
  • The US dollar slipped 0.43% at $95.59 other major world currencies.

2021 Year-To Date for the major indexes:

  • The S&P Index +26.89%
  • The Dow Jones Index +18.73%
  • The NASDAQ Index +21.39%
  • The Russell 2000 Small cap Index +13.69%
  • EAFE International Index +7.83%
  • 10 Year Treasury Yield is 1.51%, higher for the week and higher for the year
  • 30 Year Treasury Yield is 1.91%, flat for the week and higher for the year
  • WTI Crude Oil Index +55.01%
  • Bloomberg Gold Index -3.64%
  • The Dollar Index +6.28% against other major world currencies

Monday the S&P 500 jumped 65 points on light volume with no major data reported.

Tuesday stocks slipped 5 points on light volume as FHFA home prices rose and Shiller home prices rose a little less than expected.

Wednesday the S&P 500 gained 7 points on light volume as pending home sales fell and missed.

Thursday stocks fell 14 points on light volume as jobless claims fell a little less than expected, continuing claims were lower and Midwest manufacturing rose and beat expectations.

Friday the S&P 500 finished the year 13 points lower with no major data reported – Happy New Year Everyone!

Mortgage rates were higher last week. The national averages as reported by Bankrate.com indicate a 15-year rate of 2.53% and a 30-year rate of 3.24%. These rates are as of 1/03/2022 and may include points.

What to watch for on the economic calendar this week:

Monday – Construction Spending

Tuesday – ISM Manufacturing

Wednesday – Mortgage Applications / ADP Employment / FOMC Minutes

Thursday – Jobless Claims / ISM Non-Manufacturing / Factory Orders

Friday – December Jobs / Consumer Credit

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

January 03, 2022

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