--- title: Market Commentary - Week ending February 9, 2018  description: Read our weekly Market Commentary for insights and information. image: https://info.pacificinvestmentresearch.com/hubfs/Guages_1.3-03.png --- [Blog](http://138.68.1.151/insights/the-pir-blog/) [Client Login](https://myaccountviewonline.com/accountview) - [About](https://pacificinvestmentresearch.com/about-pacific-investment-research/) - [Meet the Team](https://pacificinvestmentresearch.com/about-pacific-investment-research/meet-the-team/) - [Our Fees](https://pacificinvestmentresearch.com/about-pacific-investment-research/our-fees/) - [Contact Us](https://pacificinvestmentresearch.com/contact-us/) - [Why Pacific?](https://pacificinvestmentresearch.com/why-pacific/) - [Are We Right for You?](https://pacificinvestmentresearch.com/why-pacific/are-we-right-for-you/) - [Key Facts & Credentials](https://pacificinvestmentresearch.com/why-pacific/key-facts-credentials/) - [Active Management](https://pacificinvestmentresearch.com/why-pacific/active-management/) - [Money Management Expertise](https://pacificinvestmentresearch.com/why-pacific/no-middle-man/) - [Who We Serve](https://pacificinvestmentresearch.com/who-we-serve/) - [Case Study 1 - Pre Retirement](https://pacificinvestmentresearch.com/who-we-serve/case-study-1/) - [Case Study 2 - Early Retirement](https://pacificinvestmentresearch.com/who-we-serve/case-study-2/) - [Case Study 3 - Mid-Late Retirement](https://pacificinvestmentresearch.com/who-we-serve/case-study-3/) - [What We Do](https://pacificinvestmentresearch.com/what-we-do-2/) - [Investment Management](https://pacificinvestmentresearch.com/what-we-do-2/plan-your-financial-future/) - [Comprehensive Planning](https://pacificinvestmentresearch.com/what-we-do-2/financial-planning/) - [How We Work Together](https://pacificinvestmentresearch.com/what-we-do-2/how-it-works/) - [Insights](https://info.pacificinvestmentresearch.com/blog) - [The PIR Blog](https://info.pacificinvestmentresearch.com/blog) - [Free Offers](https://pacificinvestmentresearch.com/free-offers/) - [Complimentary Meeting](https://pacificinvestmentresearch.com/free-offers/free-financial-check-up/) - [Speak with a Financial Professional](https://pacificinvestmentresearch.com/speak-with-a-financial-professional/) - [Second Opinion - Investment Review](https://pacificinvestmentresearch.com/free-offers/second-opinion-reviews/) - [How to Select an Advisor - Free Guide](https://pacificinvestmentresearch.com/free-offers/ebook-offer/) - [Client Login](https://pacificinvestmentresearch.com/client-login/) ### Posts by Topic - [Market Commentary (123)](https://info.pacificinvestmentresearch.com/blog/topic/market-commentary) - [Market Snapshot (35)](https://info.pacificinvestmentresearch.com/blog/topic/market-snapshot) - [Retirement Planning (22)](https://info.pacificinvestmentresearch.com/blog/topic/retirement-planning) - [Insider (3)](https://info.pacificinvestmentresearch.com/blog/topic/insider) - [Buying Your Retirement Home (1)](https://info.pacificinvestmentresearch.com/blog/topic/buying-your-retirement-home) - [Social Security Topics (1)](https://info.pacificinvestmentresearch.com/blog/topic/social-security-topics) see all [![PIR](https://info.pacificinvestmentresearch.com/hubfs/Pir_May_2017_-theme/Images/logo.png)](https://pacificinvestmentresearch.com/) - [About](https://pacificinvestmentresearch.com/about-pacific-investment-research/) - [Meet the Team](https://pacificinvestmentresearch.com/about-pacific-investment-research/meet-the-team/) - [Our Fees](https://pacificinvestmentresearch.com/about-pacific-investment-research/our-fees/) - [Contact Us](https://pacificinvestmentresearch.com/contact-us/) - [Why Pacific?](https://pacificinvestmentresearch.com/why-pacific/) - [Are We Right for You?](https://pacificinvestmentresearch.com/why-pacific/are-we-right-for-you/) - [Key Facts & Credentials](https://pacificinvestmentresearch.com/why-pacific/key-facts-credentials/) - [Active Management](https://pacificinvestmentresearch.com/why-pacific/active-management/) - [Money Management Expertise](https://pacificinvestmentresearch.com/why-pacific/no-middle-man/) - [Who We Serve](https://pacificinvestmentresearch.com/who-we-serve/) - [Case Study 1 - Pre Retirement](https://pacificinvestmentresearch.com/who-we-serve/case-study-1/) - [Case Study 2 - Early Retirement](https://pacificinvestmentresearch.com/who-we-serve/case-study-2/) - [Case Study 3 - Mid-Late Retirement](https://pacificinvestmentresearch.com/who-we-serve/case-study-3/) - [What We Do](https://pacificinvestmentresearch.com/what-we-do-2/) - [Investment Management](https://pacificinvestmentresearch.com/what-we-do-2/plan-your-financial-future/) - [Comprehensive Planning](https://pacificinvestmentresearch.com/what-we-do-2/financial-planning/) - [How We Work Together](https://pacificinvestmentresearch.com/what-we-do-2/how-it-works/) - [Insights](https://info.pacificinvestmentresearch.com/blog) - [The PIR Blog](https://info.pacificinvestmentresearch.com/blog) - [Free Offers](https://pacificinvestmentresearch.com/free-offers/) - [Complimentary Meeting](https://pacificinvestmentresearch.com/free-offers/free-financial-check-up/) - [Speak with a Financial Professional](https://pacificinvestmentresearch.com/speak-with-a-financial-professional/) - [Second Opinion - Investment Review](https://pacificinvestmentresearch.com/free-offers/second-opinion-reviews/) - [How to Select an Advisor - Free Guide](https://pacificinvestmentresearch.com/free-offers/ebook-offer/) - [Client Login](https://pacificinvestmentresearch.com/client-login/) Menu - [Home](http://138.68.1.151/) - Market Commentary - Week ending February 9, 2018  # Market Commentary - Week ending February 9, 2018  **Volatility returned to the US equity markets with vengeance, after a long period of lull . All the major indices were down for the year, however a late day rally on Friday ended the week on a high note. Our Short Term Indicator changed towards BEARISH for the past week. ** - It was yet another choppy week in markets. The US Equities extended there losses recording the  worst weekly equity performance in over 2 years with  S&P 500 down 5.10%.  - For the week, the major benchmarks fell largely in tandem, and all of the major indexes entered “correction” territory (defined as a drop of more than 10% from their recent highs).   The S&P 500 entered a technical correction, down 10% from its last peak in January.The technology-heavy NASDAQ Composite closed at 6,874, a decline of -5.1%.  By market cap, small caps fared slightly better than large caps with the small cap Russell 2000 giving up “only” -4.5%, while the large cap S&P 500 lost -5.2% and the mid cap S&P 400 fell -5.1%.  - CBOE Volatility Index popularly known as  VIX or fear gauge jumped 67%, 3 times higher than its lowest point.  - U.S. 10-Year Treasury yield finished at 2.85%, at one point hitting 2.88% on concerns of spike in inflation and as a result Fed raising interest rates. If the rates continue their upward trajectory we could start seeing the equity markets cool off further.![indices 4.png](https://info.pacificinvestmentresearch.com/hs-fs/hubfs/indices%204.png?width=800&height=450&name=indices%204.png) - It was a sea of red around the world.  Canada’s TSX had its third consecutive loss for the week, falling -3.7%.  The United Kingdom’s FTSE fell -4.7%, while on Europe’s mainland France’s CAC 40 and Germany’s DAX each fell -5.3%.  In Asia, the sell-off was much more severe.  China’s Shanghai Composite plunged -9.6%, while Japan’s Nikkei ended down -8.1%, and Hong Kong’s Hang Seng plummeted -9.5%.  As grouped by Morgan Stanley Capital International, emerging markets lost -5.4%, while developed markets dropped an even deeper -5.5%. - Precious metals aren’t exactly behaving like the “safe-haven” investments they’re often thought to be.  Even with the recent volatility, gold actually traded down last week, losing -1.6% to end the week at $1315.70 an ounce.  Silver fell a further -3.4% to end the week at $16.14.  Energy plunged along with the major world equity indexes, with West Texas Intermediate crude oil falling a whopping -9.6% to $59.20 a barrel, and Brent crude falling -8.2% to $62.71.  Copper, viewed by some analysts as an indicator of global economic health, fell for the fourth week in a row, dropping -4.8%. - On the Economic front the number of Americans newly seeking unemployment benefits fell last week to 221,000, according to the Labor Department.  First-time claims dropped to their lowest level in nearly 45 years as the labor market remained tight.  Last week marked the 153rd consecutive week that claims remained below the key 300,000 threshold that analysts use to indicate a healthy jobs market.  That is the strongest stretch since 1970, when the labor market was much smaller.  Overall, the labor market is near or at full employment, with the jobless rate at a 17 year low of 4.1%.  For more information click [here ](https://tradingeconomics.com/united-states/jobless-claims) ![united-states-jobless-claims.png](https://info.pacificinvestmentresearch.com/hs-fs/hubfs/united-states-jobless-claims.png?width=730&height=340&name=united-states-jobless-claims.png)   Please visit our website [www.pacificinvestmentresearch.com](http://www.pacificinvestmentresearch.com) for more insights. Email us at [info@pacificinvestmentresearch.com](mailto:info@pacificinvestmentresearch.com) if you have any questions. ![Pacific Investment Research](https://app.hubspot.com/settings/avatar/315c67425e4ebf3eedbd86df2f831d03) ### Written by [Pacific Investment Research](https://info.pacificinvestmentresearch.com/blog/author/pacific-investment-research) ### Subscribe to our newsletter # Are you prepared to retire when you want to? Schedule your complimentary 30 minute financial overview session today. [Book Now](https://info.pacificinvestmentresearch.com/free-financial-checkup-pacific-investment-research) ### Popular Posts - [![Everyone's Talking About: The Fed](https://info.pacificinvestmentresearch.com/hubfs/market%20vol%20pp%3B.jpg)](https://info.pacificinvestmentresearch.com/blog/everyones-talking-about-the-fed) [Everyone's Talking About: The Fed](https://info.pacificinvestmentresearch.com/blog/everyones-talking-about-the-fed) July 19, 2019 - [![Market Commentary - Week ending September 27, 2019](https://info.pacificinvestmentresearch.com/hubfs/Market%20Data%2009-30-2019.png)](https://info.pacificinvestmentresearch.com/blog/market-commentary-week-ending-september-27-2019) [Market Commentary - Week ending September 27, 2019](https://info.pacificinvestmentresearch.com/blog/market-commentary-week-ending-september-27-2019) September 30, 2019 - [![Market Commentary - Week ending February 10, 2020](https://info.pacificinvestmentresearch.com/hubfs/Guages_1.3-02-1.png)](https://info.pacificinvestmentresearch.com/blog/market-commentary-week-ending-february-10-2020) [Market Commentary - Week ending February 10, 2020](https://info.pacificinvestmentresearch.com/blog/market-commentary-week-ending-february-10-2020) February 10, 2020 [![Share on Facebook](https://static.hubspot.com/final/img/common/icons/social/facebook-24x24.png)](http://www.facebook.com/share.php?u=https%3A%2F%2Finfo.pacificinvestmentresearch.com%2Fblog%2Fhs-previewvtyjomwp-5548999863-0-0%3Futm_medium%3Dsocial%26utm_source%3Dfacebook) [![Share on LinkedIn](https://static.hubspot.com/final/img/common/icons/social/linkedin-24x24.png)](http://www.linkedin.com/shareArticle?mini=true&url=https%3A%2F%2Finfo.pacificinvestmentresearch.com%2Fblog%2Fhs-previewvtyjomwp-5548999863-0-0%3Futm_medium%3Dsocial%26utm_source%3Dlinkedin) [![Share on Twitter](https://static.hubspot.com/final/img/common/icons/social/twitter-24x24.png)](https://twitter.com/intent/tweet?original_referer=https%3A%2F%2Finfo.pacificinvestmentresearch.com%2Fblog%2Fhs-previewvtyjomwp-5548999863-0-0%3Futm_medium%3Dsocial%26utm_source%3Dtwitter&url=https%3A%2F%2Finfo.pacificinvestmentresearch.com%2Fblog%2Fhs-previewvtyjomwp-5548999863-0-0%3Futm_medium%3Dsocial%26utm_source%3Dtwitter&source=tweetbutton&text=Market%20Commentary%20-%20Week%20ending%20February%209%2C%202018%C2%A0) [![Share on Email](https://static.hubspot.com/final/img/common/icons/social/email-24x24.png)](mailto:?subject=Check%20out%20https%3A%2F%2Finfo.pacificinvestmentresearch.com%2Fblog%2Fhs-previewvtyjomwp-5548999863-0-0%3Futm_medium%3Dsocial%26utm_source%3Demail%20&body=Check%20out%20https%3A%2F%2Finfo.pacificinvestmentresearch.com%2Fblog%2Fhs-previewvtyjomwp-5548999863-0-0%3Futm_medium%3Dsocial%26utm_source%3Demail) ### Wondering when you can retire? Schedule your no-pressure, free financial review today. [Let’s Talk ❯](https://info.pacificinvestmentresearch.com/free-financial-checkup-pacific-investment-research) #### Learn More - [About](http://138.68.1.151/about-pacific-investment-research/) - [What We Do](http://138.68.1.151/what-we-do-2/) - [Who We Serve](http://138.68.1.151/who-we-serve/) - [Why Pacific?](http://138.68.1.151/why-pacific/) - [Contact Us](http://138.68.1.151/contact-us/) - [Legal Information](http://138.68.1.151/legal-information/) #### Pacific Investment Research Pacific Investment Research is a boutique investment advisory firm that provides financial planning and investment management services to investors throughout California.  We have more than 25 years of experience helping individuals and couples accumulate and preserve the assets they need for a secure financial future.  As fee-only fiduciaries, we put our clients' best interests first. [![CFP](https://info.pacificinvestmentresearch.com/hubfs/Pir_May_2017_-theme/Images/cfp.png)](http://www.cfp.net/) ![Badge 7](https://info.pacificinvestmentresearch.com/hs-fs/hubfs/Pir_May_2017_-theme/Images/badge7.png?width=110&name=badge7.png) Paladin Certified This advisor or firm is a vetted, documented member of the Paladin Registry. Certified is Paladin’s highest level of due diligence for financial advisors and firms. Paladin has conducted background checks for the credentials and ethics that are documented in its Registry research reports. Paladin provides free information services to investors who rely on planners and investment advisors to help them achieve their financial goals. Paladin is the only SEC registered firm that vets, validates, and documents the quality of financial professionals and firms (since 2003). [Click Here](https://www.paladinregistry.com/financial-advisor/orange-california/Richard.Schultz) to view Paladin’s research report for this professional or firm. [![napfa](https://info.pacificinvestmentresearch.com/hubfs/Footer%20Logos/MDP-Logo.jpg)](https://www.napfa.org/firm/5176) [![naaim](%3Chttps://cdn2.hubspot.net/hubfs/3306377/Footer%20Logos/naaim.jpg)](https://www.naaim.org/) [![mdp](%3Chttps://cdn2.hubspot.net/hubfs/3306377/Footer%20Logos/NAPFA-logo.jpg)](http://www.mdpreferredservices.com/) #### Connect with us - Southern California 942 E Chapman Ave Orange CA, 92866 714.731.0848 [info@pacificinvestmentresearch.com](https://info.pacificinvestmentresearch.com/blog/info@pacificinvestmentresearch.com) - Northern California 19925 Stevens Creek Blvd, Suite 100 Cupertino CA, 95014 408.217.6888 [info@pacificinvestmentresearch.com](https://info.pacificinvestmentresearch.com/blog/info@pacificinvestmentresearch.com) - Social Networks [[![PIR](https://info.pacificinvestmentresearch.com/hubfs/Pir_May_2017_-theme/Images/logo.png)](http://138.68.1.151) © 2018 Pacific Investment Research. All rights reserved.](https://www.facebook.com/PacificInvestmentResearch/)