Month: April 2020

April 26th 2020

Market Review

U.S. stocks finished the week in negative territory with the main benchmarks posting their first weekly decline in three. The Dow Jones Industrial Average declined 1.9% over the week to 23,775.27. The S&P 500 recorded a weekly loss of 1.3% to finish at 2,836.74. The Nasdaq retreated 0.2% for the week to finish at 8,634.52. Most key S&P sectors ended in the red for the week, led by utilities. Energy and comm. services were the only gainers. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 35.9. Read More

April 19th 2020

Market Review

In line with our recent outlook, U.S. stocks closed out the week with solid gains. For the week, the Dow Jones Industrial Average soared 2.2% to end at 24,242.49. The S&P 500 gained 3.0% to close at 2,874.56. The Nasdaq jumped 6.1% to end at 8,650.14. The major averages were all up more than 25% from their late-March lows. Nearly all key S&P sectors finished in positive territory for the week, led by the health care sector. Financials were the biggest decliner. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, dropped to 38.2. Read More

April 12th 2020

Market Review

U.S. stocks finished the holiday-shortened week sharply higher Thursday, with the main indexes recovering about half of their losses that were racked up in late March. For the week, the Dow Jones Industrial Average rocketed 12.7% to close at 23,719.37. The S&P 500 finished at 2,789.82 and gained 12.1% this week for its best weekly performance since 1974! The Nasdaq booked a weekly gain of 10.6% and closed at 8,153.58, its best week since 2009. From its recent March 23 low, the Dow is up 25.0%, the S&P 500 is up 22.3% from that point and the Nasdaq is up 18.2%. All key S&P sectors succeeded to close in positive territory for the week, led by the materials sector. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, dropped to 41.7. Read More

April 5th 2020

Market Review

Mainly due a weak Friday, U.S. stocks ended the week with relatively moderate declines (considering the “new normal” of high volatility on most days). For the week, the Dow Jones Industrial Average declined 2.7%, to finish at 21,052.53. The blue-chip index is down 28.8% from its closing high on Feb. 12 and down 26.2% so far in 2020. The S&P 500 recorded a weekly loss of 2.1 percent and closed at 2,488.65. The benchmark index has now fallen 26.5% from its closing high on Feb. 19 and is down 23% so far in 2020. The Nasdaq fell 1.7 percent for the week to close at 7,373.08. The tech-heavy index is down 24.9% from its record close on Feb. 19 and down 17.8% so far in 2020. Three key S&P sectors succeeded to close in positive territory for the week, led by the energy sector. Utilities was the biggest decliner. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 47. Read More