Market Action

  • The equity markets as measured by the Dow gained 19.78 points for the week while the S&P lost 10.05. Technical indicators imply a cautious approach.
  • Biotech continued to weigh on the market this week. The index is down almost 14% since the end of February.
  • May gold futures continued to decline this week ranging from 1334 to 1293. Inflation continues to remain subdued. See following page.
  • Consumer Confidence was approximately 4% better than expected.
  • Oil (WTI) started the week at 99.35 and traded up to finish the week at 101.51. Likely concerns over Crimea were a driver.
  • Utility stocks performed well this week as investors sought out defensive holdings following the Fed comments.
  • US housing prices dropped 13% month over month and the MBA mortgage index declined by 3.5% the week ended 21 March.
  • Initial jobless claims were lower than expected by 29k. Personal income rose by .3%.
  • The USD continued to gain against the Euro(1.379-1.375).

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