Financial Market Recap – Week Ending 2/22/19

HK Financial Services

HK Financial Services Market Recap for Week Ending 2/22/19

Top of the morning: Stocks are higher pre-market. As of 7:45 CST this morning, the Dow is up about 160 points and the S&P 500 is up 0.5%. Bond yields are close to where we started the year, with the 2-year Treasury at 2.51% and the 10-year at 2.68%. China local stocks (Shanghai) are up over 5.5%, presumably on optimism that a trade deal will be reached.

 Overview: Global stock markets advanced following a week of productive high-level trade talks between the U.S. and China. Non-U.S. stocks led the way with emerging markets (MSCI EM) up 2.8% and international developed (MSCI EAFE) up 1.7%. Domestically, the S&P 500 gained 0.7% for the week. Easing trade tensions, rising equity markets and hopes for production cuts lifted oil prices to 2019 highs last week. WTI crude oil finished the week up 3.6% at $57.26 per barrel and is now up about 20% for the year-to-date.

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Provided by Ivan Gruhl, Chief Investment Officer, HK Financial Services. Sources:  Bloomberg, Pac Global, Goldman Sachs Asset Management (data). Investment advisory services offered through HK Financial Services (HKFS), an Independent Registered Investment Advisor. Commission-based securities products are sold by ProEquities registered representatives and offered through ProEquities, Inc., a Registered Broker-Dealer and member of FINRA and SIPC. Insurance products issued by many highly rated carriers. HKFS, ProEquities and Boyum Barenscheer, PLLP are independent of each other.

This material is being provided for informational purposes only with the understanding that neither HKFS nor ProEquities is rendering tax, legal or accounting advice. Please consult with your CPA or other appropriate advisors on all matters pertaining to legal, accounting or tax obligations and requirements.

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