Weekly Market Recap

Weekly Market Recap – May 13, 2022

On Thursday, Finland pledged to join NATO, a move prompted by Russia’s February invasion of Ukraine. In a 368 to 57 vote, the House passed a bill to provide Ukraine an additional $40 billion in military and humanitarian aid; it now awaits a vote in the Senate. Bitcoin plunged to its lowest …

Weekly Market Recap – May 6, 2022

The Fed announced a 0.5% interest rate increase, the largest increase in the federal-funds benchmark since 2000, as the central bank continues efforts to combat inflation. The water level in Lake Mead, which provides water to the states of Arizona, California, and Nevada, has dropped to its lowest point in the man-made …

Weekly Market Recap – April 29, 2022

President Biden asked Congress to authorize $33 billion for weapons as well as economic and humanitarian aid for Ukraine. According to the U.N., more than 5.4 million refugees have fled Ukraine since the fighting began. The CDC reported that COVID-19 has caused more than 990,000 deaths in the U.S.
The S&P Case-Shiller …

Weekly Market Recap – April 22, 2022

Russia has proclaimed the fall of Mariupol; the Pentagon is sending Ukraine an additional $800 million in military aid for the second time in two weeks. As of Friday, the outcome of France’s election runoff between incumbent president Emmanuel Macron and challenger Marine Le Pen was too close to call; however, as …

Weekly Market Recap – April 14, 2022

Vladimir Putin called the peace talks a “dead end” as his military heightened its focus on Ukraine’s eastern Donbas region. Russia’s flagship cruiser, the Moskva, sank in the Black Sea; Ukraine claimed that its missiles had struck the vessel, while Russia alleged it was an accidental ammunition fire. The U.S. began sending …

Weekly Market Recap – April 8, 2022

Western nations continued their efforts to exert economic pressure against Russia: the E.U. approved a ban on Russian coal, and the U.S. moved to prohibit Russia’s energy sales to the American markets. The U.N. voted to suspend Russia from the Human Rights Council due to evidence of atrocities committed by Russian troops …

Weekly Market Recap – April 1, 2022

Russia increased attacks in Ukraine, despite ongoing peace talks, as the war entered its sixth week. U.S. COVID-19 deaths are now fewer than 800 per day, the lowest daily average since mid-August; the nation’s total death toll from the virus has surpassed 975,000. The FDA has authorized second booster shots for the …

Weekly Market Recap – March 25, 2022

The Russian invasion of Ukraine has now become the largest European conflict in the last 75 years. On Wednesday, President Biden traveled to Brussels to attend the strategy summit with more than 30 NATO members. The alliance addressed several critical issues surrounding the crisis: increased refugee aid, new economic sanctions, deployment of …

Weekly Market Recap – March 18, 2022

As the humanitarian crisis in Ukraine worsens, Russian airstrikes occurred within 11 miles of Poland’s border, where NATO forces are stationed on high alert. A 7.4 magnitude earthquake struck off Japan’s coast near Fukushima on Wednesday night, affecting the eastern part of the country, including Tokyo. The Omicron sub-variant BA.2 is driving …

Weekly Market Recap – March 11, 2022

More than 300 international companies have ceased or scaled back operations in Russia in an effort to put pressure on President Putin by using sanctions and other economic penalties. The sectors represented range from finance to energy, media, food, transportation, tech, and consumer services. According to the U.N., 1.5 million Ukrainians have …

Weekly Market Recap – March 4, 2022

The U.S. Department of Commerce reported that the trade deficit in January was -$107.6 billion (vs. -$100.5 billion in December), a record level for the second month in a row. Other monthly economic statistics compared with prior levels, were as follows: the Chicago purchasing managers index 56.3 vs. 65.2, construction spending +1.3% …

Weekly Market Recap – February 25, 2022

In the first massive European military operation of its kind since WWII, Russia invaded Ukraine early on Thursday. The news of the invasion triggered panic in Russia’s markets. The Ruble collapsed as much as 85-to-1 against the U.S. Dollar, an all-time low for the currency. Moscow’s stock exchange (MOEX) had plunged 45% …

Weekly Market Recap – February 18, 2022

On Friday, President Biden said he is convinced Russian President Putin has decided to invade Ukraine and target the capital city of Kyiv. Stating that it could happen in the “coming days”, he cited U.S. intelligence as his source.
Monthly economic statistics, compared with previous levels, were as follows: the producer price …

Weekly Market Recap – February 11, 2022

Tensions over Ukraine have continued to rise as Russia has increased its military presence in Belarus. A Canadian judge has ordered an end to the blockade at the Ambassador Bridge border crossing by truckers protesting COVID-19 mandates; the demonstration is impacting an estimated $400 million per day in import/export transactions. The Biden …

Weekly Market Recap – February 4, 2022

The U.S. Treasury Department reported on Tuesday that the national debt has surpassed $30 trillion. Monthly economic statistics compared with prior levels, were as follows: the Chicago purchasing managers index rose to 65.2 vs. 64.3, construction spending +0.2% vs. +0.6%, factory orders -0.4% vs. +1.8%, job openings 10.9 million vs. 10.8 million, …

Weekly Market Recap – January 28, 2022

The Fed indicated it would begin increasing interest rates in March. Justice Stephen G. Breyer, the oldest member of the current Supreme Court, announced his intention to retire.
Monthly economic statistics, compared with previous values were as follows: durable goods orders -0.9% vs. +3.2%, new home sales 811,000 vs. 725,000, consumer confidence …

Weekly Market Recap – January 21, 2022

The news of the week, in addition to the ongoing pandemic coverage, the weather, and the economy, is now also focused on Russia’s plans concerning Ukraine.
Martin Luther King Jr. Day shortened the business week, which saw a shorter than usual list of economic statistic reports. These, compared with prior levels, were: …

Weekly Market Recap – January 14, 2022

The London Interbank Offered Rate (Libor) has died at the age of 52. The benchmark began losing credibility in 2008, and the British Bankers Association announced in 2017 that it would ultimately be removed from use by the international banking industry. The last Libor deals were executed on Dec. 31, 2021, but …

Weekly Market Recap – January 7, 2022

The minutes released from the Federal Reserve’s December meeting show that high inflation is convincing central bank officials to rethink their policy path.
Monthly economic statistics reported during the week, compared with prior releases, were as follows: construction spending +0.4% vs. +0.4%, consumer credit $20 billion vs. $17 billion, trade deficit -$80.2 …

Weekly Market Recap – December 31, 2021

As the year was winding down, pandemic news continued ramping up. The U.S. COVID-19 death toll for 2021 was roughly 435,000 compared with 385,000 in 2020 (a 13% increase).
Although the holiday week that closed 2021 was a full 5 days long, it was short on economic statistics. Weekly initial jobless claims …

Weekly Market Recap – December 23, 2021

U.S. coronavirus pandemic statistics have been monopolizing the news. Nationwide, the seven-day moving average for COVID-19 related deaths reached 1,481 (up 22% from a week ago). New cases averaged 176,829 (a 40% increase from the previous week), and hospitalizations rose 3% to an average daily admission level of 69,886, which has been …

Weekly Market Recap – December 17, 2021

COVID-19 statistics have dominated the news every day of the week. The Omicron variant has now been detected in all 50 states. Congress gave final approval to raise the debt ceiling by $2.5 trillion.
Monthly economic statistics, compared with previous levels, were as follows: the producer price index +0.8% vs. +0.6%, retail …

Weekly Market Recap – December 10, 2021

As the week came to a close, a series of deadly tornadoes began to strike the U.S. heartland with wind speeds up to 150 mph. The ensuing destruction across six states caused countless deaths and injuries as it leveled entire communities.
Monthly economic statistics, compared with prior months were: balance of trade …

Weekly Market Recap – December 3, 2021

New COVID-19 cases in the U.S. are up 36% from a month ago. As of Friday, the Omicron variant had been detected in 10 states. The Fed’s intentions of addressing inflation may be evidenced by the Treasury yield curve flattening more; it is now at its narrowest in 11 months. The yield …