Episode Synopsis "Castlestone Weekly Market Update 22nd February 2020"

U.S. Equities Although the spread of the coronavirus still dominates the headlines, it was weak economic data from the services sector that pushed stocks lower last week. Friday’s PMI report was weaker than expected particularly in the services sector numbers and completed a series of weak government reports. The Dow Jones Average fell 1.4% to 28,992.41, while the S&P 500 dropped 1.3% to 3,337.75. The Nasdaq Composite lead all the averages lower, down 1.6% to close the week at 9,576.59. Treasuries U.S. Treasury yields extended their weeklong slump on Friday as investors worried that the economic impact of COVID-19 might not be contained to China. The 10-year Treasury note yield fell 12 basis points on the week to a near 5 month low. The 2-year note yield fell 7.6 basis points, while the 30-year bond yield tumbled 12.6 basis points sliding below its all time low of 1.95%. Dollar The Dollar Index continued its move higher last week, reaching its highest level since April of 2017. The dollar has risen more than 1 percent against China’s government-managed currency, the renminbi, in February alone. For the year, the Dollar is up more than 3.5% against the euro, 3% against the yen and more than 2.5 %against the British pound. Gold Gold futures gained 3.9% for the week, closing at $1648.80 an oz. The weekly percentage climb was the largest since June. Crude Oil Oil prices rallied over the week off of what appears to be a support level of $50.00 a barrel. WTI tallied a 2% weekly rise, based on the front-month contract, while Brent added 2.1% for the week.

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More episodes of the podcast Castlestone Management

• Castlestone Weekly Market Update 7th March 2020
• Castlestone Weekly Market Update 22nd February 2020
• Castlestone Weekly Market Update 22nd February 2020
• Castlestone Weekly Market Update: 15th February 2020
• Castlestone Weekly Market Update 8th February 2020
• Castlestone Weekly Market Update: 1st February 2020