Market Update July 25, 2016

Jul 25, 2016 | Wealth Management

The Markets (as of market close July 22, 2016)

The S&P 500 reached a record high last Friday as each of the indexes listed here posted marginal gains over the prior week. Equities have demonstrated a positive trend over the past several weeks. The Nasdaq eclipsed its previous high only to slip a bit by week's end. While the indexes continue to forge ahead, overall trading has been light. Across the "pond" the UK's economy has likely contracted in July, according to IHS Markit's Purchasing Managers' Index, which showed businesses responding to the uncertainty of Brexit by cutting output and payrolls.

Crude oil (WTI) closed at $44.21 a barrel last week, down from $46.28 per barrel the previous week. The price of gold (COMEX) fell to $1,330.30 by late Friday afternoon, dropping from the prior week's price of $1,337.70. The national average retail regular gasoline price decreased for the fifth week in a row to $2.230 per gallon on July 18, $0.023 under the prior week's price and $0.572 below a year ago.

Last Week's Headlines

Eye on the Week Ahead

While believed to be accurate and from sources deemed to be reliable, the presented information is general in nature.  It is not intended to provide, and should not be relied on for, accounting, investment, legal or tax advice.  Consult the appropriate professional advisor for more complete and current information.  Investors should consider their individual financial circumstances and the inherent risks of investing with their investment advisor. Services provided by Wealth Management located at Bank of the Bluegrass & Trust Co.: Are not FDIC insured*Are not bank guaranteed*May lose value*Are not guaranteed by any state or government agency. Prepared by Broadridge Investor Communication Solutions, Inc. Copyright 2016.


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