Weekly Financial Update - July 5, 2019
July 8, 2019
U.S. equities ended last week higher after a temporary truce in the U.S.-China trade war. The S&P 500 closed for the week up 1.7%, while the Dow Jones increased 1.2%. The 10-year Treasury closed the week at 2.04%. In commodities markets, U.S. crude oil prices declined roughly 1.5%, while gold fell 0.7% after surging nearly 8% in June.
At the G20 Summit in Japan, the U.S. and China agreed to hold off imposing new tariffs and open up negotiations. The U.S. agreed to continue selling components to Huawei, while China indicated it would continue to buy U.S. agricultural products. President Trump stated the current 25% tariffs on $250 billion of Chinese products will not be reduced.
Learn more about domestic developments in our Weekly Financial Market Update.