Weekly Market Update – October 17, 2022
U.S. Markets: All but one of the major U.S. indexes were lower this week, as third-quarter earnings reporting season began in earnest and investors weighed inflation data and their implications for Federal Reserve policy. By the end of the week, the S&P 500 Index had surrendered nearly half of its gains since its March 2020 bottom. The Dow Jones Industrial Average added 338 points finishing the week at 29,635—a gain of 1.2%. But it was the only major domestic index to do so. The technology-heavy NASDAQ Composite, in contrast, finished the week down -3.1%. By market cap, the large cap S&P 500 index declined -1.6%, while the mid cap S&P 400 index retreated -1% and the small cap Russell 2000 index finished the week down -1.2%.
Read MoreWeekly Market Update – October 10, 2022
U.S. Markets: Stocks ended higher for the first time in four weeks but surrendered most of their gains at the end of the week, when employment data suggested that the economy was not slowing enough to satisfy Federal Reserve policymakers. Energy was the standout performer in the S&P 500 Index as oil prices surged following a decision by major exporters to cut global production. The Dow Jones Industrial Average retraced most of last week’s decline rising 2.0% to 29,297, but the technology-heavy NASDAQ Composite only managed a 0.7% gain to 10,652. By market cap, the large cap S&P 500 added 1.5%, while the mid cap S&P 400 and small cap Russell 2000 rose 2.9% and 2.2%, respectively.
Read MoreWeekly Market Update – October 3, 2022
U.S. Markets: Turmoil in financial markets in the United Kingdom and hotter-than-expected inflation numbers at home sent stocks to their third consecutive weekly decline. In addition, the yield on the benchmark 10-year U.S. Treasury note briefly topped 4% for the first time since 2008. The Dow Jones Industrial Average shed 865 points falling to 28,726—a decline of -2.9%. The technology-heavy NASDAQ Composite retreated -2.7% to 10,576. By market cap, the large cap S&P 500 finished the week down -2.9%, while the mid cap S&P 400 gave up -1.6% and the small cap Russell 2000 ended the week down -0.9%. On a closing basis, the Dow, S&P 500 and NASDAQ Composite all set new lows for 2020 on Friday.
Read MoreWeekly Market Update – September 26, 2022
U.S. Markets: Stocks recorded a second week of large losses after Federal Reserve policymakers revealed they expected official short-term interest rates to continue going sharply higher for longer than market participants have been expecting. The Dow Jones Industrial Average and S&P 400 Midcap Index fell to new intraday lows since late 2020, while the S&P 500 Index, small-cap Russell 2000 Index, and Nasdaq Composite managed to stay slightly above their bottoms in mid-June 2022. The Dow Jones Industrial Average shed over 1200 points falling -4% to 29,590. The technology-heavy NASDAQ Composite gave up -5.1% to 10,868. By market cap, the large cap S&P 500 ended down ‑4.6%, while the mid cap S&P 400 declined -5.9%. Small cap stocks fared the worst, with the Russell 2000 plunging ‑6.6%.
Read MoreWeekly Market Update – September 19, 2022
U.S. Markets: U.S. stocks fell sharply as inflation fears intensified and short-term bond yields reached their highest levels since 2007 (right before the onset of the Great Financial Crisis). The S&P 500 Index recorded its largest weekly drop since mid-June, hitting its lowest point on an intraday basis since mid-July. Growth stocks and tech fared the worst with the technology-heavy NASDAQ Composite falling 5.5% to 11,448. The Dow Jones Industrial Average shed over 1,300 points finishing at 30,822—a decline of 4.1%. By market cap, the large cap S&P 500 declined -4.8%, while the mid cap S&P 400 ended down -4.7% and the small cap Russell 2000 finished the week down -4.5%.
Read MoreWeekly Market Update – September 12, 2022
U.S. Markets: U.S. Stocks broke their string of three consecutive weekly losses as investors appeared to grow more confident that the market had reached at least a temporary bottom. Some indications that inflation may be moderating likely also played a part. The Dow Jones Industrial Average rose 833 points finishing the week at 32,152—a gain of 2.7%. The technology-heavy NASDAQ Composite retraced almost all of last week’s decline rising 4.1%. By market cap, the large cap S&P 500 added 3.6%, while the mid cap S&P 400 and small cap Russell 2000 finished the week up 4.4% and 4.0% respectively.
Read MoreWeekly Market Update – September 6, 2022
U.S. Markets: Major U.S. stock indexes finished the week lower as investors continued to digest the implications of hawkish messages from Federal Reserve officials. The S&P 500 Index extended the daily losing streak that began with Fed Chair Jerome Powell’s August 26 speech at the central bank’s Jackson Hole conference. The Dow Jones Industrial Average ended the week down 965 points to 31,318 – a decline of -3.0%. The technology-heavy NASDAQ Composite gave up -4.2% to 11,631. By market cap, the large cap S&P 500 retreated -3.3%, the mid cap S&P 400 fell 4.3% and the small cap Russell 2000 declined -4.7%.
Read MoreWeekly Market Update – August 29, 2022
U.S. Markets: U.S. stocks moved sharply lower as investors became less optimistic that the Federal Reserve will be able to tame inflation without causing a significant economic slowdown. The Dow Jones Industrial Average gave up over 1400 points finishing the week at 32,283—a decline of -4.2%. Technology and high-growth stocks fared the worst with the tech-heavy Nasdaq Composite falling -4.4% to its lowest level in a month. By market cap, the large cap S&P 500 declined -4.0%, while the mid cap S&P 400 declined -3.0% and the small cap Russell 2000 ended the week down ‑2.9%.
Read MoreWeekly Market Update – August 22, 2022
U.S. Markets: U.S. stocks gave back a portion of last week’s strong gains after St. Louis Fed President James Bullard, typically a “hawkish” policymaker, appeared to dampen hopes that inflationary pressures had peaked. “The idea that inflation has peaked is…not statistically really in the data at this point,” Bullard asserted in an interview. The Dow Jones Industrial Average declined 54 points finishing the week at 33,707, a decline of -0.2%. The technology-heavy NASDAQ Composite retreated -2.6% to 12,705. By market cap, the large cap S&P 500 declined -1.2%, the S&P 400 mid-caps retreated -1.4%, and the small cap Russell 2000 fared the worst, ending the week down -2.9%.
Read MoreWeekly Market Update – August 15, 2022
U.S. Markets: U.S. stocks rallied after data showed signs that inflation had started to slow, supporting the view that the rise in the consumer prices may have peaked. Federal Reserve officials reiterated that the central bank still had work to do in taming inflation, but the market nonetheless appeared to lower its expectations for a 75-basis-point (0.75%) rate hike in September. The Dow Jones Industrial Average finished the week up 958 points, finishing at 33,761, a gain of 2.9%. The technology-heavy NASDAQ Composite rallied 3.1% to close at 13,047. By market cap, the large cap S&P 500 added 3.3%, while the mid cap S&P 400 surged 4.4% and the small cap Russell 2000 finished the week up 4.9%.
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