US Capital Markets Review 6/15/18
This week was a mixed week for the US capital markets. The Dow Jones Industrial Average was down -0.9%, but the Nasdaq was up +1.3%, and the S&P 500 was flat for the week. For the year, the Nasdaq is up +12.2%, while the Dow Jones Industrial Average has lagged and is +1.5% this year.
With regards to individual sector performance, consumer discretionary and consumer staples did well, while energy, financials and telecom lagged. Utilities also continued their strength from last week, posting a +2.6% weekly gain.
Commodities struggled, and the Bloomberg commodity index was down -2.5% for the week. Gold also had a rough go of it, and was -1.4% for the week, closing at $1,280 an ounce. Silver was down -1.0% for the week, closing at $16.60 per ounce.
Cryptocurrencies had a nightmare week – Bitcoin was down 11% to $6,520 and Steem was down 24% to $1.67. EOS caved as well and is down to $10.70 a coin. The Tether news is definitely a concern, as it basically says the Bitcoin run in late last year and the related run in alt-coins earlier this year were market manipulation, and not really driven by growing demand.
In economic news, the Federal Reserve had a much anticipated meeting, and raised the federal funds target rate an additional 0.25%, which was expected. This was the second rate hike of the year, and another is expected in September. A potential rate hike at the December meeting is not out of the question either.
In political news, the highly awaited meeting between President Trump and North Korean leader Kim Jong-Un took place in Singapore this week. The general consensus is that the meetings went fairly well, but were light on substance. In general terms, North Korea agreed to a full dismantle of its nuclear arsenal, while getting protections from the US, though there will be many details to be worked out. China and other countries continue to announce retaliatory tariffs in response to US tariffs recently put in place, continuing to escalate trade war fears.
Overall, I remain cautiously optimistic about the US capital markets and remain fully invested.
Thank you for reading,
Brian
always sharing very great information of us capital market matter.. i hope that, next week coming will be great.but this time sbd prize very low position.so,i am really frustrated.but can i question doing pls?how i am improve my power..?can give to suggestion?this post just valuable for every steemians.specially i always thought it..thank you for yoyr great anylysis of capital market review matter..very well done..take care yourself and best of luck of your great work.may god bless you..my dear friend.. @brian.rrr
Such a valuable market analysis. The week is really bad for crypto market. Hope it will rise very soon. At this moment we just invest more and wait untill the market rise.
Hello how are you? good and bad news for everyone about the US markets
the Bitcoin if low but will surely rise again
In Venezuela the prices rise and rise and every day more inflation
Thank you for keeping me up to date with your excellent update of the US market
Greetings to your beautiful family
Friend brian I think this week was a bit strong for the market of the crypto went down a lot hopefully this week is different and everything recovers not always there are good times this is part of life
I am taking advantage of this down swing here on Steemit to earn more as the crypto market go back up. I will continue to post to earn money, but I will invest cash to pump myself up.
My friend surely this week everything will be a little better in the market of cryptocurrencies I have seen as the SBD and STEEMIT as the BITCOIN has been very unstable has also dropped a lot with luck this week will be a little better this beginning we will see what happens
US market capital market is unstable for cryptocurrency. On the other hand, bitcoin market acting the same way. We are waiting for bitcoin price stable then others uses field or institutional money. After that crypto market will be something. It's my personal view. Thanks for your nice post with good analysis.
yes I heard bitcoin was down in price , wonder if it will pick up ?
Hope this down market will rise again soon.
Great review. You always sharing current capital market position. Thanks for hard work. @brian.rrr