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4400 Post Oak Pkwy #200
Houston, TX 77027
Financial Synergies Wealth Advisors is a fee-only, fiduciary Financial Advisor in Houston, Texas. We specialize in wealth management services, including comprehensive financial planning and investment management.
For more than thirty years we’ve been serving the financial needs of individuals, families, and businesses in Houston, Texas and around the country.
Wealth Management Services include financial planning, retirement planning, investment management, tax planning, insurance planning, estate planning, and company retirement plans.
Find out if we’re a good match for your financial planning and investment management needs. We offer a free, no-obligation consultation to help us get to know each other. We can meet by phone, in-person, or online.
4400 Post Oak Pkwy #200
Houston, TX 77027
Financial Synergies Wealth Advisors is a fee-only, fiduciary Financial Advisor in Houston, Texas. We specialize in wealth management services, including comprehensive financial planning and investment management.
For more than thirty years we’ve been serving the financial needs of individuals, families, and businesses in Houston, Texas and around the country.
Wealth Management Services include financial planning, retirement planning, investment management, tax planning, insurance planning, estate planning, and company retirement plans.
January 10, 2020 Weekly Market Recap
Stock market returns to winning ways as geopolitical tensions subside. The large-cap indices hit new record highs this week, as tensions in the Middle East were de-escalated and technology stocks continued to outperform. The Nasdaq Composite rose 1.8% to climb past the S&P 500 (+0.9%) and Dow Jones Industrial Average (+0.7%). The Russell 2000 (-0.2%) underperformed for the third straight week.
Iran remained a focal point, at least in the first half of the week after it escalated its hostile rhetoric against the U.S. and fired more than a dozen ballistic missiles against U.S. and coalition forces in Iraq. Any equity weakness was bought, and a risk-on mindset followed de-escalation comments from President Trump amid no American casualties.
The mega-cap stocks within the S&P 500 information technology (+2.2%) and communication services (+2.0%) sectors continued to provide influential leadership. The energy sector (-1.1%), on the other hand, was this week’s laggard amid a 6.4% drop in the price of oil ($58.99, -4.04). Crude was pressured by bearish inventory data and skepticism that the Middle East situation would disrupt production.
On Friday, the December jobs report showed 145,000 jobs were added to nonfarm payrolls in December. The soft report could have been partly to blame for stocks ending the week on a lower note.
Separately, a Boeing (BA) 737-800 jetliner crashed shortly after takeoff in Tehran this week, killing all 176 passengers on board. President Trump and U.S. allies believed that the plane was shot down by Iranian missiles, but there was no indication that the U.S. would reconsider its de-escalation strategy.
U.S. Treasuries ended the week slightly higher. The 2-yr yield declined two basis points to 1.56%, and the 10-yr yield declined four basis points to 1.83%. The U.S. Dollar Index advanced 0.5% to 97.36.
Source: Briefing Investor
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