Healthy consolidation period possible but still no major deal-breaker visible
June 21st 2020
Market Review
In line with our latest call, U.S. stocks recovered significantly last the week. The Dow Jones Industrial Average gained 1.0% for the week to finish at 25,871.46. The S&P 500 added 1.8% on the week to close at 3,097.92. The broad index recorded its fourth positive week in five. The Nasdaq jumped 3.7% for the week to end at 9,946.12. Among the key S&P sectors, health care was the best weekly performer, while utilities dragged. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 35.1. Read MoreToo early to get concerned about the recent sentiment driven washout-day
June 14th 2020
Market Review
U.S. stocks wrapped a volatile week and due to single strong down-day, all three major U.S. averages finished the week finally in negative territory. On Thursday, all major indices recorded their biggest one-day losses since mid-March, posting declines of at least 5%. In the end, the Dow Jones Industrial Average declined 5.5% over the week to 25,605.54. The S&P 500 recorded a weekly loss of 4.7% to finish at 3,041.31. The Nasdaq shed 2.3% for the week to end at 9,588.81. All key S&P sectors ended in negative territory for the week, led by energy. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 36.1. Read MoreMelt up in place, as the S&P 500 rocketed 4.9% for the week!
June 7th 2020