2 min
Castlestone Weekly Market Update: 15th February 2020 Castlestone Management
-
- Investissement
U.S. Equities
Equities rose for the first four days of the week, only to see profit taking hit the market again on a Friday. Stocks have been higher over the last four weeks but the Dow has finished lower on each of those Fridays. Traders clearly don’t want to be long over the weekend. The Coronavirus certainly plays a part in the nervousness but it could be that investors are waiting for an all clear on the virus before putting new money to work that could set us up for the next leg higher. The S&P 500 rose 1.6% on the week, to 3380.16; while the Nasdaq gained 2.2%, to 9731.18; and the Dow Jones industrials advanced 295.57 points, or 1%, to 29,398.08. Both the S&P 500 and The Nasdaq closed at records. Markets are closed Monday for President’s Day.
Treasuries
U.S. Treasury yields finished higher for the second straight week. The 10-year Treasury note yield closed up nearly a basis point, the 2-year note yield climbed 2.5 basis points and the 30-year bond yield was flat on the week. The coronavirus and weak retails sales helped move yields up.
Dollar
Last week the Dollar continued its rally that began at the turn off the year.
Gold
Concerns surrounding COVID-19 and its impact on the global economy continued to feed haven demand for gold. The precious metal was up 0.8% on the week.
Crude Oil
Oil prices notched their first weekly rise in six weeks, as a report of oil purchases by Chinese refiners helped to ease worries about a slowdown in oil demand from the spread of COVID-19. For the week, prices rose 3.4%.
U.S. Equities
Equities rose for the first four days of the week, only to see profit taking hit the market again on a Friday. Stocks have been higher over the last four weeks but the Dow has finished lower on each of those Fridays. Traders clearly don’t want to be long over the weekend. The Coronavirus certainly plays a part in the nervousness but it could be that investors are waiting for an all clear on the virus before putting new money to work that could set us up for the next leg higher. The S&P 500 rose 1.6% on the week, to 3380.16; while the Nasdaq gained 2.2%, to 9731.18; and the Dow Jones industrials advanced 295.57 points, or 1%, to 29,398.08. Both the S&P 500 and The Nasdaq closed at records. Markets are closed Monday for President’s Day.
Treasuries
U.S. Treasury yields finished higher for the second straight week. The 10-year Treasury note yield closed up nearly a basis point, the 2-year note yield climbed 2.5 basis points and the 30-year bond yield was flat on the week. The coronavirus and weak retails sales helped move yields up.
Dollar
Last week the Dollar continued its rally that began at the turn off the year.
Gold
Concerns surrounding COVID-19 and its impact on the global economy continued to feed haven demand for gold. The precious metal was up 0.8% on the week.
Crude Oil
Oil prices notched their first weekly rise in six weeks, as a report of oil purchases by Chinese refiners helped to ease worries about a slowdown in oil demand from the spread of COVID-19. For the week, prices rose 3.4%.
2 min