Weekly Market Perspectives

Summary

• The S&P 500 declined 0.56% last week while the NASDAQ fell 1.99% and the DJIA dropped 0.83%.
• The Federal Reserve held its policy rate at 3.75% to 4.00% with Lisa Cook and Beth Hammack favoring a quarter-percentage-point increase.
• Real gross domestic product increased at a 3.4% annualized rate in the third quarter supported by investment, consumer spending, and government spending.
• September's core personal consumption expenditures price index rose 3.1% from a year earlier.
• Alphabet reported 25% revenue growth but recorded a $9.1 billion free cash outflow as property and equipment purchases reached $51.4 billion.
• Alphabet shares fell approximately 13% following its earnings report.
• Amazon reported 39% revenue growth in Amazon Web Services with a companywide operating margin of 13.9%.
• Amazon's free cash flow over the preceding 12 months was negative $42.4 billion primarily reflecting increased artificial intelligence investment.
• Amazon management maintained its forecast for approximately $220 billion in annual cash capital expenditures.
• The Bloomberg 1000 index returned -0.43% weekly while the Bloomberg 2000 returned 1.19%.
• The VIX index decreased 0.15% to a level of 19.42.
• Gold prices fell 3.04% weekly to $3,874.62 while silver dropped 8.89% to $49.10.
• WTI oil prices rose 0.82% to $104.12 and Brent oil prices increased 0.79% to $117.64.
• Natural gas prices surged 9.77% to $2.90.
• The EUR/USD exchange rate changed -0.37% to 1.12 while the USD/JPY rate changed 0.44% to 157.56.
• 621 NYSE issues advanced compared to 1,163 that declined.
• 770 Nasdaq issues advanced compared to 2,449 that declined.
• 261 NYSE issues reached new 52-week highs while 268 reached new 52-week lows.
• 437 Nasdaq issues reached new 52-week highs while 1,421 reached new 52-week lows.
• U.S. 2-year Treasury yields stood at 4.59% with a 0.37% weekly change.
• U.S. 10-year Treasury yields stood at 4.93% with a 0.79% weekly change.
• MSCI China declined 0.44% weekly with a year-to-date return of -18.03%.
• MSCI Latin America fell 15.28% weekly with a year-to-date return of 6.05%.