Weekly Financial Market Update - January 4, 2019
January 7, 2019
The S&P 500 jolted up and down this week with a 2.5% decline last Thursday followed by a 3.4% gain on Friday. The decline was triggered by weak economic survey data from the manufacturing sectors in the U.S. and China and iPhone-maker Apple’s large decline following its reduced revenue guidance for next quarter. Equities rebounded sharply in response to the stronger-than-expected December employment report.
Additionally, comments from Fed officials signaling a more patient interest rate hike approach, and confirmation from Chinese officials that they will host trade talks with the U.S. next week boosted sentiment. The U.S. 10-year Treasury yield also rose on Friday after flirting with a twelve-month low on Thursday.
For more including comments from Federal Reserve officials and economic data releases from last week, read our Weekly Financial Market Update.