Weekly Market Update – January 30, 2023
U.S. Markets: U.S. stocks resumed their winning streak, as investors appeared to welcome economic data that supported hopes of a “soft landing”. The Dow Jones Industrial Average rose over 600 points finishing the week at 33,978, a gain of 1.8%. The technology-heavy NASDAQ composite notched its fourth consecutive week of gains, rising 4.3% to 11,622. By market cap, the large cap S&P 500 rose 2.5%, while the mid cap S&P 400 and small cap Russell 2000 each added 2.4%.
Read MoreWeekly Market Update – January 23, 2023
U.S. Markets: The major U.S. indexes finished the week mixed as recession fears appeared to weigh on sentiment. The narrowly focused Dow Jones Industrial Average performed worst and gave back a portion of its strong rally in the first two weeks of the year, while the technology-heavy Nasdaq Composite recorded a modest gain. The Dow Jones Industrial Average fell over 900 points last week to finish the week at 33,375—a decline of -2.7%. The Nasdaq finished the week up 0.6% recording its third consecutive week of gains. By market cap, the large cap S&P 500 ended the week down ‑0.7%, while the mid cap S&P 400 retreated -0.9% and the small cap Russell 2000 ended the week down ‑1%.
Read MoreWeekly Market Review – January 17, 2023
U.S. Markets: U.S. stocks recorded a second consecutive week of gains as investors weighed key inflation data and the start of the quarterly earnings reporting season. The NASDAQ Composite and growth-oriented sectors outperformed, helped by rebounds in some mega-cap technology names including Amazon, Tesla, and Microsoft. The Dow Jones Industrial Average rose 2.0% last week, finishing the week at 34,303. The technology-heavy NASDAQ Composite made up some lost ground by rallying 4.8%. By market cap, the large cap S&P 500 added 2.7%, the mid cap S&P 400 gained 3.7% and the small cap Russell 2000 fared the best rallying 5.3%.
Read MoreWeekly Market Review – January 9, 2023
U.S. Markets: An encouraging U.S. jobs report sparked a rally on Friday that helped 2023 begin on a positive note. All of the major indexes finished the week in the green. The Dow Jones Industrial Average added 483 points, finishing the week at 33,631—a gain of 1.5%. The technology-heavy NASDAQ Composite finished up for the first time in the last five weeks, adding 1.0%. By market cap, the large cap S&P 500 rose 1.4%, the mid cap S&P 400 finished up 2.5% and the small cap Russell 2000 gained 1.8%.
Read MoreWeekly Market Review – January 2, 2023
U.S. Markets: The major U.S. indexes ended the week lower in a second week of light holiday trading. Consumer staples and materials shares fell the most, while the consumer discretionary sector remained resilient. The Dow Jones Industrial Average pulled back -0.2% to 33,147, while the technology-heavy NASDAQ Composite ended down -0.3% to 10,466. By market cap, the large cap S&P 500 ticked down a scant -0.1%, while the mid cap S&P 400 pulled back 0.2% and the small cap Russell 2000 finished the week essentially flat.
Read MoreWeekly Market Review – December 27, 2022
U.S. Economic News: The number of Americans filing for first-time unemployment benefits ticked up last week, but remained near historically low levels. The Labor Department reported initial jobless claims rose by 2,000 to 216,000 last week. Economists had expected a reading of 220,000. Twenty-seven of the 53 states and U.S. territories that report jobless claims showed an increase last week. Only Massachusetts posted an increase of more than 1,000 (1,433). Still, the consensus view remains that rising job layoffs are a matter of when, not if. Economist Thomas Simons of Jefferies wrote, “We expect that claims are going to trend higher over time, but only gradually so.” Meanwhile, continuing claims, which counts the number of people already receiving benefits, remained basically unchanged at 1.67 million.
Read MoreWeekly Market Review – December 19, 2022
U.S. Markets: U.S. stocks pulled back for a second week as fears intensified over rising interest rates. Nearly every sector within the index reported sharp losses with the exception of energy shares. The Dow Jones Industrial Average retreated -556 points finishing the week at 32,920, a decline of -1.7%. The technology-heavy NASDAQ Composite fell a further -2.7% after last week’s -4% drop. By market cap, the large cap S&P 500 and S&P 400 mid cap index each pulled back -2.1% and the small cap Russell 2000 finished the week down -1.9%.
Read MoreWeekly Market Review – December 5, 2022
U.S. Markets: The major U.S. equity indexes ended the week higher, supported by the possibility that the Federal Reserve may slow its pace of interest rate hikes. Growth stocks outperformed their value counterparts in the S&P 500 Index, while the technology-heavy Nasdaq Composite Index posted solid gains. The Dow Jones Industrial Average ticked up 0.2% to 34,430 while the NASDAQ rose 2.1% to 11,462. By market cap, the large cap S&P 500 added 1.1% last week, while the mid cap S&P 400 and small cap Russell 2000 gained 0.6% and 1.3% respectively.
Read MoreWeekly Market Update – November 28, 2022
U.S. Markets: The major U.S. stock indexes managed gains during the holiday-shortened week, with the benchmark S&P 500 index finishing above the 4000 level for the first time in two months. The Dow Jones Industrial Average added over 600 points last week closing at 34,347, a gain of 1.8%. The technology-heavy NASDAQ Composite tacked on 0.7% closing at 11,226. By market cap, the large cap S&P 500 rose 1.5%, while the mid cap S&P 400 and Russell 2000 each gained 1.9% and 1.1% respectively.
Read MoreWeekly Market Update – November 21, 2022
U.S. Markets: Most of the major U.S. indexes gave back a portion of last week’s strong gains and closed modestly lower. Growth stocks lagged value-oriented shares and the energy sector underperformed as European oil and natural gas inventories reached near-peak levels. The Dow Jones Industrial Average closed the week flat at 33,746. The technology-heavy NASDAQ Composite retraced -1.6% finishing the week at 11,146. By market cap, the large cap S&P 500 retreated -0.7%, while the mid cap S&P 400 declined -0.8% and the small cap Russell 2000 fared the worst ending the week down -1.8%.
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