Equity Markets Climb Higher Despite Increased Volatility

Last week saw another period of volatility in the stock market, largely driven by U.S.-China trade tensions, the ongoing government shutdown and concerns over the health of the banking sector. Despite market swings throughout the week, stocks ultimately pushed higher by week’s end, with each of the benchmark indexes listed here posting gains. The financial sector was a major source of volatility last week after reports of loan issues related to alleged fraud at some regional banks sparked credit concerns. However, stronger-than-expected third-quarter earnings data from some major banks helped quell investor consternation. The 10-year Treasury yields dipped below 4.00% midweek before climbing later in the week. Crude oil prices declined for the third straight week, while gold prices surged past $4,300.00 per ounce earlier in the week before settling at nearly $4,250.00.

Gas Prices Fall Nationally; Shutdown Continues to Delay Key Data

The national average retail price for regular gasoline was $3.061 per gallon on October 13, $0.063 per gallon below the prior week’s price and $0.110 per gallon less than a year ago. Also, as of October 13, the East Coast price ticked down $0.032 to $2.952 per gallon; the Midwest price fell $0.121 to $2.812 per gallon; the Gulf Coast price decreased $0.096 to $2.623 per gallon; the Rocky Mountain price dropped $0.017 to $3.049 per gallon; and the West Coast price dipped $0.013 to $4.213 per gallon.

The release of most economic data has been delayed due to the government shutdown.

Eye on the Week Ahead

It will be another quiet week, with most relevant economic data delayed by the government shutdown.