US Stock Markets Ended April 13, 2018

Oil and Treasury yields moved inversely to each other last week while the stock market balanced risks both domestic and abroad. Oil rose each day last week to close over $67 a barrel, the highest level since December 2014. Energy stocks in the S&P 500 rose over 6% last week, while the S&P 500 gained over 2%. Concho Resources, Marathon Oil, and Helmeric & Payne were some of the best performing stocks in the index. Banks started to report quarterly results last week. JP Morgan topped analyst expectations, but indicated increased competition could hinder future growth in the industry. Citigroup Inc. also reported better than expected earnings and proceeded to fall after the cautious comments from JP Morgan's CEO Jamie Dimon. External risk factors have continued to weigh on investors' minds. Political havoc surrounding President Donald Trump's twitter comments about military action in Syria, involvement with Russia, trade tensions with China, and rumors the US will rejoin the Trans-Pacific Partnership (TPP) are making investors question which way US companies will position themselves for the future. Interest rate sensitive Utilities and Real Estate sectors were the worst performing groups in the S&P 500 last week. The dollar also declined slightly last week, although it has remained relatively stable since the drop in January. Looking ahead to next week, Financials will be in focus as more banks are set to report quarterly results.
Posted on Monday, April 16, 2018 @ 8:03 AM

These posts were prepared by First Trust Advisors L.P., and reflect the current opinion of the authors. They are based upon sources and data believed to be accurate and reliable. Opinions and forward looking statements expressed are subject to change without notice. This information does not constitute a solicitation or an offer to buy or sell any security.