Stock markets ended the week almost unchanged after 5 weeks of solid gains
Stocks were mostly flat this week as renewed trade worries overshadowed a solid earnings reporting season. So far, nearly two-thirds of companies have reported earnings. Nearly three-quarters of them beat expectations.
The US and China agreed in December to hold off on any new tariffs until March 1, as it appeared that both countries’ economies were beginning to suffer. With that date approaching and no deal in place, investors are getting anxious.
The Dow Jones Industrial Average closed the week at 25,106.33, up 0.2% from 25,063.89 last week. It’s up 7.6% year to date. The S&P 500 closed the week at 2,707.88, almost unchanged from 2,708.53 last week. It is up 8% year-to-date. The NASDAQ closed the week at 7,298.20, up 0.5% from 7,263.87 last week. The NASDAQ is up 10% year to date.
Treasury bond yields lower this week – The 10-year treasury bond closed the week yielding 2.63%, down from 2.70% last week. The 30-year treasury bond yield ended the week at 2.97% down from 3.03% last week. We watch treasury bond yields because mortgage rates follow bond yields.
Mortgage rates lower this week – Rates are at the lowest levels since March 2018 –
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