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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.
Financial Advisor Houston, TX
4400 Post Oak Pkwy #200Houston, TX 77027
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.
May 5, 2017 Weekly Market Recap
The S&P 500 opened the week with back-to-back wins. Monday’s marginal victory was fueled by the top-weighted technology and financials sectors while Tuesday’s uptick took place despite the lack of sector leadership and crude oil’s 2.5% decline.
On Wednesday, the benchmark index registered its first, and only, loss of the week (-0.1%) after Apple (AAPL) reported lower than expected iPhone unit sales. However, the tech giant’s upbeat earnings kept losses in check. The FOMC voted to leave the fed funds target range unchanged at 0.75%-1.00%, as expected, with the accompanying policy statement providing little to no new information.
The House of Representatives passed the revised American Health Care Act on Thursday, a big victory for the GOP. However, the bill will face heavy resistance in the Senate, where it can only afford to lose two Republican votes. Crude oil also made headlines, plunging 4.7% to a five-month low near $45.50/bbl. The tumble was credited to a string of disappointing inventory reports, some weak data out of China, and the deteriorating technical picture for the commodity. The S&P 500 added 0.1%.
Buyers were intrigued by Friday’s better than expected Employment Situation Report for April. Two widely followed unemployment rates are at their lowest levels since 2001.
Gains, however, were capped once again ahead of the final round of the French presidential election, which will take place on Sunday. Polls suggest that Emmanuel Macron will easily defeat his rival Marine Le Pen, which has been construed as a positive for global equity markets given Ms. Le Pen’s anti-EU rhetoric. France’s CAC ended the week at its highest level in over ten years.
In the end, despite the range-bound action, this week will be remembered as a happy one with the S&P 500 advancing for the fourth week in a row, adding 0.6%. The fed funds futures market still points to the June FOMC meeting as the most likely time for the next rate-hike announcement with an implied probability of 83.1%, up from last week’s 66.6%.
Enjoy your weekend!
Sources: Briefing Investor, WSJ, Labor Dept.
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