Except for the Dow, each of the indexes listed here posted modest gains by the close of last week. Favorable corporate earnings reports helped boost the S&P 500 and the Nasdaq, which performed the best. The Russell 2000 gained almost 0.50% and the Global Dow inched ahead a little over 0.1%. Year-to-date, the tech-heavy Nasdaq leads the way as it surges toward a 20.0% gain, followed by the Global Dow, the S&P 500, the Dow, and the Russell 2000. Low inflation may be influencing investors to move away from Treasuries, as yields fell sharply last week. A midweek push in oil prices wasn’t enough to keep them from closing the week below $46 per barrel.
Both the Dow and S&P 500 reached record highs last week, and each of the indexes listed here posted gains. While the large-cap indexes reached new highs, the tech-heavy Nasdaq had the best week, climbing over 2.50% by last week’s end, followed by the Global Dow, which gained a little over 2.0%. With consumer prices holding steady inflation appears to be stagnant, which bodes well for the Fed holding interest rates at their current level. This may have prompted investors to sell long-term bonds as prices dropped, hiking yields higher.
CHICAGO, June 22 (Reuters) – Retirees can look forward to the largest Social Security cost-of-living adjustment next year since 2012 – but don’t break out the champagne just yet. For many, higher Medicare premiums will take a big bite out of their raise.
The 2018 Social Security cost-of-living adjustment (COLA) will not be announced until October, but inflation trends point toward an increase of about 2 percent, according to a recent forecast by the Senior Citizens League. That would be a welcome change compared with the 0.3 percent bump in 2017, and 2016 when no COLA was made.
Stocks ended last week higher, despite falling energy shares. The Dow and S&P 500 rose last Friday on the heels of June’s strong labor report. Of the indexes listed here, the Dow led the way followed by the Nasdaq and the Global Dow. The yield on 10-year Treasuries climbed closer to its 2016 closing value as long-term bond prices fell, sending yields higher.
In 1977, country singer Johnny Paycheck scored a No.1 hit on the singles chart with “Take This Job and Shove It.” The song’s popularity reflected how many people feel about the daily grind of working for a living. For many, retirement is the way out – and it’s something most people would like to achieve sooner rather than later.
A drop in energy shares is keeping the large cap indexes of the S&P 500 and Dow in check, although both benchmarks posted moderate weekly gains. Last week’s big mover was the Nasdaq, which advanced close to 2.0% and is up over 16.0% year-to-date. The yield on 10-year Treasuries slipped 2 basis points last week and is down 30 basis points since the end of last year. Energy stocks declined again last week as the price of oil continues to fall into bear market territory.