Highlights of the week ended May 19, 2017 and a look ahead to this week’s expected announcements and potential market-moving activity.
- U.S. equities finished negative for the week: The Dow Jones Industrial Average (DJIA) closed 92 points lower, or fell 0.44%, to 20,805. The Standard & Poor’s 500 (S&P 500) index lost 9 points, or fell 0.38%, to 2,382. The Nasdaq closed last week 0.61% lower at 6,084.
- U.S. Economic Indicators
The Conference Board’s Leading Economic Indicators Index for the U.S. rose 0.3% for the month of April, following gains in January, February and March. Eight out of the ten indicators that make up the index increased in April, with interest rate spreads, average weekly initial claims for unemployment insurance and average consumer expectations for business conditions leading the positive contributors. Meanwhile, the negative contributors were building permits and stock prices. The Board’s Coincident Economic Index, a measure of current economic activity, and the Lagging Economic Index both increased 0.3% in April.
U.S. Composite Leading Economic Indicators Index (2010 = 100)
Source: The Conference Board 2017
- Important reports/items for the upcoming week include new residential sales for April, existing-home sales for April, minutes from The Federal Open Market Committee (FOMC) May policy meeting, Organization of Petroleum Exporting Countries (OPEC) policy meeting in Vienna, durable-goods orders and consumer sentiment numbers.