Brent and Crude Oil Hit Multi-Year Highs, Indices Recover, McDonald’s Misses Expectations and More

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Here's your weekly wrap for the stock and commodities market. I'll give you a quick snap-shot of major economic, stock and commodities news. Bite-sized facts that should be on your radar.

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US indices had a better week despite the latest Fed announcement pointing to interest rate rises over the coming months. In addition to the rate rises, the announcement indicated that the money printing policy that’s been in place will gradually be reduced, it is expected that the tapering will lessen the inflationary pressures on the US economy.

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Sadly, the week looks like a market bounce since the bigger picture for investors is that the S&P 500 is down 9.8% from its latest high and approaching correction territory. The Russell 2000 index of small-cap stocks has dropped to 1968.51, putting it around 20% below its previous high, indicating a bear market.

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The most recent economic reports had some encouraging news. Last quarter, the economy increased at an annualized pace of 6.9%, the highest one-year increase since 1984. Consumer spending, business investment, and efforts to restore inventories were expected to boost GDP to 5.5%. Separately, weekly jobless claims fell by 30,000, signaling a strong labor market.

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McDonald’s (NYSE: MCD) stock initially dropped after missing fourth-quarter top and bottom-line projections however, it finished the week up at just over $256. McDonald's reported quarterly earnings and revenue fell short of analysts' projections because of increasing costs. It is the company's fourth profit miss in the last eight quarters.

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Alternative investment management company, Blackstone’s total assets under management increased by 42% to $880.9 billion, marking the company’s strongest growth in almost a decade. Inflows were above $77 billion, excluding the AIG Life & Retirement and Everlake Life acquisitions, which concluded in November, according to analysts at Moody’s.

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In subdued activity, Chicago wheat prices edged up, while corn and soybeans held steady near multi-month highs. The dollar is set to have its best week in seven months as traders price in interest rate hikes in the United States in the coming months, putting pressure on dollar-priced commodities.

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Oil prices have risen because of supply concerns; as major producers maintain a policy of modest output increases in the face of increased fuel demand. Brent and WTI prices are expected to rise for the sixth week in a row, the longest weekly streak since October when Brent prices rose for seven weeks and WTI prices rose for nine weeks.

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Brent and Crude Oil Hit Multi-Year Highs, Indices Recover, McDonald’s Misses Expectations and More

Here's your weekly wrap for the stock and commodities market. I'll give you a quick snap-shot of major economic, stock and commodities news. Bite-sized facts that should be on your radar.

In subdued activity, Chicago wheat prices edged up, while corn and soybeans held steady near multi-month highs. The dollar is set to have its best week in seven months as traders price in interest rate hikes in the United States in the coming months, putting pressure on dollar-priced commodities.

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