M Notes: Mon, 8-24
| Week Close: 8-21-26 | + (-) | % | |
|---|---|---|---|
| Dow | 53,277 | -455 | -0.8% |
| S&P | 7,674 | -112 | -1.4% |
| Nasdaq | 26,180 | -549 | -2.1% |
| R2000 | 3,018 | -50 | -1.6% |
| 10-year | 4.66 | -0.03 | -0.6% |
| Oil | 86.64 | +4.24 | +5.1% |
LAST WEEK:
Markets: More Iran, Oil and the Strait of Hormuz. It’s pretty clear Iran has just been stalling, with little intention of wanting a deal. Is an Economic squeeze the answer?
S&P roller coaster last week: Down, Down a lot, Up, Down a lot, and Up.
Fed Balance Sheet: $6.75 Trillion.
Fed Minutes: Two tidbits. First, while the FOMC voted 9-3 to not change their interest rate in their last meeting three weeks ago, there was a sense some on the Committee want to raise their rates. Second, Fed Chair Kevin Warsh discussed the possibility of only having six meetings a year (instead of the current eight).
Housing: Starts went down -12.4% in July, and were down -13.5 % Y/Y.
Industrial Production: July’s number was up +0.2%.
Metals: Gold finished the week at $4,662. Silver finished the week at $69.
National Debt: $39.95 Trillion.
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THIS WEEK:
Focus of the week: The Jackson Hole Symposium. Another first for new Fed Chair Kevin Warsh. He will deliver his keynote address Friday morning.
Calendar: New Homes Sales (Tue); Durable Goods Orders, the second read on Q2 GDP, and the PCE (Wed).
Earnings: Some of the companies reporting this week: Intuit, Marvell Technology, NVIDIA, and Salesforce.
* The Standard & Poor's 500 (S&P 500) is an unmanaged group of securities considered to be representative of the stock market in general. The Dow Jones Industrial Average is a price-weighted index of 30 actively traded blue-chip stocks. The NASDAQ Composite Index is an unmanaged, market-weighted index of all over-the-counter common stocks traded on the National Association of Securities Dealers Automated Quotation System. Yahoo! Finance, the Wall Street Journal, Investor’s Business Daily and Barron’s are several of the sources used for financial information.
* The National Debt figure comes from usdebtclock.org.
* Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance. Consult your financial professional before making any investment decision. You cannot invest directly in an index. Past performance does not guarantee future results. No strategy can assure a profit or protect against a loss. Investments in the securities markets involve risk, such as loss of your principal.