May 18, 2018
Stocks were on the defensive with the Dow ending 0.5 percent lower on the week for no change year to date. One negative for stocks is the rise in interest rates as the 10-year Treasury yield rose 10 basis points in the week to close over the 3 percent level at 3.07 percent. But higher rates are proving a plus for the dollar with the dollar index, at 93.65, up 1.2 percent on the week for a year-to-date gain of 1.5 percent. Oil rose 1.1 percent on the week to $71.35 with gold down 2.1 percent to $1,291.