Further confirmation for our summer rally base case scenario!
July 19th 2020
Market Review
U.S. stocks finished the week mostly with hefty gains. The Dow Jones Industrial Average gained 1.3% for the week to close at 26,671.95, whereas the S&P 500 advanced 2.3% in the same time period to finish at 3,224.73. Both averages posted their third straight weekly gain. However, the tech’s struggle this week led to a pronounced divergence between the Nasdaq and two other major indexes. Hence, the tech-heavy index fell 1.1% for its first weekly loss in three to close at 10,503.19. Most key S&P sectors finished higher, led by industrials, while the technology sector ended in the red. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded lower, near 25.7. Read MoreIngredients for a summer rally are accumulating, but volatility will remain high
July 12th 2020
Market Review
U.S. stocks continued to push higher in a quite volatile week. The Dow Jones Industrial Average booked a 0.9% weekly gain to end at 26,075.30. The S&P 500 recorded a 1.7% gain over the week and closed at 3,185.04. The Nasdaq rocketed 4.0% for the week to close at 10,617.44. For the year, the Dow Jones Industrial Average and the S&P 500 are down 8.6% and 1.4%, respectively, while the Nasdaq is up more than 18%. Among the key S&P sectors, the comm. services sector was the best weekly performer, while energy dragged. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 27.3. Read MoreThe S&P 500 jumped 4% for the week
July 5th 2020