Craig Johnson’s

Financial Markets Summary

Thursday, January 18, 2018

  • The Federal Reserve Beige Book was released yesterday. It is a compilation of current economic conditions across the 12 Federal Reserve Districts. The various districts saw the economy expanding at a “modest to moderate” rate. Dallas saw a “robust increase.”
  • Inflation was reported as experiencing “modest to moderate” growth. The various districts also reported that retail sales were generally up with auto sales mixed. Housing sales were constrained somewhat by limited inventory.
  • Goldman Sachs reported their earnings yesterday. They were in line with consensus estimates. During 2017, beyond the better numbers overall the company experienced a 30% decrease in revenue from the prior year in Fixed Income, Currency and Commodities Client Execution. The company stated that the area operated in a “challenging environment characterized by low levels of volatility and low client activity.”
  • Oil has been able to move up to just below $65 a barrel, while extending the sharp uptrend since September. This move has also translated well for energy stocks on the stock exchanges. The intermediate term trend remains neutral to lower, while the long term trend is lower.
  • Gold has been moving towards the recent high in September near $1362 an ounce. It closed yesterday near $1328.
  • The U.S. dollar remains in a downtrend.
  • The stock market short, intermediate and long term trends are higher. 
 

Sources: bankrate.com, bloomberg.com, Dow Jones News, finviz.com, Investor's Business Daily, marketwatch.com, seekingalpha.com, Thomson Reuters/First Call, U.S. Dept of Treasury, individual company web sites and press releases.

Leonetti & Associates, LLC views or opinions are as of a certain date and subject to change without notice.  The material contained herein is for informational purposes only and obtained from sources we consider reliable. We make no guarantee as to its accuracy or completeness.  References to specific securities and industries/sectors should not be considered recommendations to buy or sell any security or advisory service.  Past performance is not a guarantee of future results.

 

 

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