US Capital Markets Review 6/29/18
This week was a poor one for the US capital markets, with all major indicies retreating. The S&P 500 was down -1.3% for the week, while the Nasdaq was down -2.4% for the week. The week started out terribly, but stocks bounced back on Friday to make the weekly losses stomach-able.
Commodities in general struggled as well, with Oil being the main exception. Crude oil continued its run which has been fueled (pun intended) by global shortages – oil was up +8.4% per barrel, which summer travelers will feel immediately at the gas pump. Gold was down -1.4% to $1,253 per ounce and silver was down -2.2% to $16.12 per ounce.
Cryptocurrencies managed to halt their recent fall with Bitcoin up +3% for the week, currently at $6,355. Steem was up +17% for the week, closing at $1.56. EOS continues to struggle and was down -4% for the week, closing at $8.00.
On the news front, the markets were largely skiddish this week due to continued trade war talk and harsh rhetoric, much of with is coming from the US side. Consumer confidence remains high, unemployment is at 3.8% and the consumer price index is looking good with acceptable, steady amounts of inflation. Home prices are up 6.6% year over year, which also bolsters consumer confidence and may have them spending more or going on more expensive vacations.
Overall, I do not see too many near term catalysts to make the markets move higher, but also do not see too many roadbumps either. I continue to remain fully invested.
Good luck,
Brian
Loved seeing those silver and gold prices drop. I was able to pick up a little more silver this weekend at the lower prices. Can't complain about that!
Not too happy about the price of oil increasing though. :(
Good for you! What kind of silver did you get? Coins or bars?
I got a few rounds, a few coins, and a few bars. It was a good weekend! :D
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
This week that passed the market was a little higher
Now the beginning of this week is starting on the right foot with respect to cryptocurrences that is great they are rising little by little today I felt happy to see this
Greetings friend
Hello friend @brian.rrr how are you? I like to read these weekly summary of the market
What I liked the most about this week is that the crypto bitcoin and STEEM are rising little by little so
OH, sad to hear the loss of gold and silver, but glad to see the rise in the cryptocurrency.
best of luck mate.
great news, you will see that I climbed exponentially friend, I read a lot and the cryptocurrency market will rise greatly.
@calitoo
I'm definitely expecting a magnanimous rise i crypto for the next week, i do hope yesterdays rise was not a one off
And for the local market, that's just inflation playing a tricky game
Really you are geving a very good information sharing with us " thanks for this post
I like the market to stay stable, these highs and lows are scary, lest they stay on the floor.
Great report, very detailed and simple to understand. Grateful