Telemus Weekly Market Review January 6th - January 10th, 2020

    | May 14, 2021

    January 6 – January 10 Week in review

    It was another strong performance for the U.S. markets last week. The large-cap stock indexes hit new record highs, as tensions in the Middle East were quickly de-escalated and technology stocks continued to outperform. The technology heavy Nasdaq Composite rose 1.8% to lead the pack, the S&P 500 climbed 0.9%, and the Dow Jones Industrial Average rose 0.7%. The small cap Russell 2000 underperformed for the third straight week dropping 0.2%.

    Iran remained a focal point, at least for the first half of the week after it escalated its hostile rhetoric against the U.S. and fired more than a dozen ballistic missiles against U.S. and coalition forces in Iraq. However whatever selling took place was quickly met with buying and a risk-on mindset following comments from President Trump that no further action was contemplated and the announcement that no American casualties occurred.

    The mega-cap stocks within the S&P 500 information technology and communication services sectors continued to provide influential leadership last week. The energy sector, on the other hand, was the laggard amid a 6.4% drop in the price of oil which ended the week at $58.99 a barrel. Crude, which had spiked on the tensions with Iran, was pressured by bearish inventory data and skepticism that the Middle East situation would disrupt production as previously feared.

    On Friday, the December jobs report showed 145,000 jobs were added to non-farm payrolls in December, which was less than the consensus forecast of 160,000 jobs and less than the readings for November and October. The soft report might have been a good reason for investors to take some profits on Friday from what many viewed to be an increasingly overbought market.

    Separately, a Boeing 737-800 jetliner crashed shortly after takeoff in Tehran last week, killing all 176 passengers on board. President Trump and U.S. allies believed that the plane was shot down by Iranian missiles which initially denied responsibility. However late Friday Iran did admit that its forces had accidentally shot down the plane.

    U.S. Treasuries ended the week slightly higher as money flowed back into riskier assets. The 2 year yield declined two basis points to 1.56%, and the 10 year yield declined four basis points to 1.83%.

    In other markets the U.S. Dollar Index advanced 0.5% to 97.36.

    January 13 – January 17 Economic Calendar

    • Monday
    • Treasury Budget
      2:00 PM ET




    • Tuesday
    • NFIB Small Business Optimism Index
      6:00 AM ET
    • CPI
      8:30 AM ET
    • Redbook
      8:55 AM ET

    • Wednesday
    • MBA Mortgage Applications
      7:00 AM ET
    • PPI-FD
      8:30 AM ET
    • Empire State Mfg Survey
      8:30 AM ET
    • Atlanta Fed Business Inflation Expectations
      10:00 AM ET
    • EIA Petroleum Status Report
      10:30 AM ET
    • Beige Book
      2:00 PM ET
    • Thursday
    • Jobless Claims
      8:30 AM ET
    • Philadelphia Fed Business Outlook Survey
      8:30 AM ET
    • Retail Sales
      8:30 AM ET
    • Import and Export Prices
      8:30 AM ET
    • Business Inventories
      10:00 AM ET
    • Housing Market Index
      10:00 AM ET
    • EIA Natural Gas Report
      10:30 AM ET
    • Treasury International Capital
      4:00 PM ET
    • Fed Balance Sheet
      4:30 PM ET
    • Money Supply
      4:30 PM ET
      • Friday
      • Housing Starts
        8:30 AM ET
      • Industrial Production
        9:15 AM ET
      • Consumer Sentiment
        10:00 AM ET
      • JOLTS
        10:00 AM ET
      • Baker-Hughes Rig Count
        1:00 PM ET

     

     

    Telemus

    Telemus is a place where financial security is just the starting point. A place where you can identify and realize a more profound, more aspirational mission – to leverage your wealth to help you achieve your envisioned future. Through a deep and thoughtful exploration process with a unique team of experts, we help you define what financial and personal achievement means. By igniting a partnership with Telemus, we will help you attain personal life enrichment, your grandest visions, and your life’s most important goals. At Telemus, we have a different perspective on your financial life. When you take a seat at the Telemus Roundtable, you gain access to the most compelling conversations and inspired solutions for your financial future. We offer you a brand new, more holistic outlook far beyond just investment management which we know will serve as the inspiration for a more enriched life.

    Telemus

    PAST PERFORMANCE IS NOT A GUARANTEE OF FUTURE RESULTS. Investment decisions should always be made based on the client's specific financial needs, goals and objectives, time horizon and risk tolerance. Current and future portfolio holdings are subject to risk. Risks may include interest-rate risk, market risk, inflation risk, deflation risk, currency risk, reinvestment risk, business risk, liquidity risk, financial risk, and cybersecurity risk. These risks are more fully described in Telemus Capital's Firm Brochure (Part 2A of Form ADV), which is available upon request. Telemus Capital does not guarantee the results of any investments. Investment, insurance and annuity products are not FDIC insured, are not bank guaranteed, and may lose value.

    New call-to-action
    New Call-to-action