Weekly Financial Market Update - January 18, 2019
January 22, 2019
Last week, major indexes posted their fourth consecutive week of gains with the S&P 500 and Nasdaq increasing by 2.87% and 2.66%, respectively. The momentum in stocks continued a strong climb over the past month buoyed by easing trade tensions between the U.S. and China, a more flexible Federal Reserve, and data suggesting the U.S. economy is still expanding.
Despite these gains, consumers’ forecast for the U.S. economy fell significantly in early January. The University of Michigan said its consumer sentiment index was 90.7 this month, down from 98.3 in December. The report likely reflects American’s fears regarding the government shutdown, trade wars, volatile markets and uncertain global growth.
Learn more in our Weekly Financial Market Update.