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Weekly Financial Market Update - June 28, 2019

Christopher LaPorta

July 1, 2019

U.S. equity markets gave back some gains in the final week of the second quarter, but nonetheless staged a strong rebound in June following a disappointing May. The Dow Jones Industrial Average posted its best June performance in over half a century with a return of 7.2%, while the S&P 500 and Nasdaq advanced 6.9% and 7.4%, respectively.

In commodities, the combination of declining U.S. crude oil stockpiles and additional sanction threats imposed by the Trump Administration on Iran earlier this week sent the price of oil to a five-week high near $58.00 per barrel. Turning to precious metals, the ongoing trade and tariff tensions and market expectations of interest rate cuts in the second half of 2019 from the U.S. Federal Reserve have driven gold prices to multi-year highs above $1,400 per ounce. 

Learn more in our Weekly Financial Market Update