Weekly Market Update – June 21, 2022
U.S. Markets: The Federal Reserve’s most aggressive rate hike since 1994 raised fears of a recession and sent stocks sharply lower for a second consecutive week. The benchmark S&P 500 index recorded its worst weekly decline since March 2020 and officially entered a bear market—defined as down more than 20% from a recent high. All of the major benchmarks finished the week deep in the red. The Dow Jones Industrial Average shed over 1500 points and gave up the 30,000-level closing at 29,889—a decline of -4.8%. The technology-heavy NASDAQ Composite, likewise, ended the week down -4.8%. By market cap, the large cap S&P 500 retreated -5.8%, while the mid-cap S&P 400 plunged -7.6% and the small cap Russell 2000 finished the week down -7.5%.
Read MoreWeekly Market Update – June 13, 2022
U.S. Markets: Major U.S. equity markets finished the week with steep losses despite strength early in the week. The Dow Jones Industrial Average shed over 1500 points finishing the week at 31,393—a decline of -4.6%. The technology-heavy NASDAQ plunged a deeper -5.6%. By market cap, the large cap S&P 500 fared the worst declining ‑5.1%, while the mid cap S&P 400 fell -4.7% and the small cap Russell 2000 ended the week down -4.4%.
Read MoreWeekly Market Update – June 6, 2022
U.S. Markets: U.S. stocks surrendered a portion of the previous week’s strong gains as investors continued to question whether the Federal Reserve would be able to rein in inflation without causing a recession. All of the major equity benchmarks finished the week to the downside. The Dow Jones Industrial Average shed 313 points, finishing the week at 32,900, down -0.9%. The technology-heavy NASDAQ Composite shed -1% and closed at 12,013. By market cap, the large cap S&P 500 fared the worst, ending down -1.2%, while the mid cap S&P 400 retreated ‑0.7% and the small cap Russell 2000 finished down -0.3%.
Read MoreWeekly Market Update – May 23, 2022
U.S. Markets: Wall Street continued its losing streak as fears grew that inflation was causing consumers to pull back on spending, setting the stage for an imminent recession. At its lows on Friday, the S&P 500 was down roughly 20.9% from its January intraday high, exceeding the 20% threshold signifying a “bear market”. The index’s biggest declines came on Wednesday, when it suffered its biggest daily loss since June 2020. The Dow Jones Industrial Average shed almost 1000 points last week, declining -2.9% to 31,262. The technology-heavy Nasdaq Composite declined for a seventh consecutive week giving up -3.8% finishing at 11,355. By market cap, the large cap S&P 500 ended down -3.0%, while the mid cap S&P 400 index fell -1.9% and the small cap Russell 2000 finished the week down -1.1%.
Read MoreWeekly Market Update – May 16, 2022
U.S. Markets: Despite an end-of-week rally, the major U.S. equity benchmarks recorded another week of losses. It marked the sixth consecutive weekly decline for the both the S&P 500 index and the Nasdaq Composite, and the seventh for the Dow Jones Industrial Average—its longest stretch since 2001. At its lows on Thursday, the S&P 500 was down nearly 18% from its peak, just above the -20% threshold that commonly defines a bear market. The Dow Jones Industrial Average shed 703 points finishing the week at 32,197—a decline of -2.1%. The technology-heavy NASDAQ Composite retreated ‑2.8% to close at 11,805. By market cap, the large cap S&P 500 retreated -2.4%, the mid cap S&P 400 declined -2.0%, and the small cap Russell 2000 gave up -2.5%.
Read MoreWeekly Market Update – May 9, 2022
U.S. Markets: Most of the major U.S. benchmark equity indexes suffered a fifth consecutive week of losses as interest rates and inflation worries continued to weigh on sentiment. The selling briefly pushed the Dow Jones Industrial Average into “correction” territory, down 10% from its recent highs. After a volatile week, with back-to-back swings of more than 900 points, the Dow finished down just -0.2% to 32,899. The technology-heavy NASDAQ Composite fared the worst of the bunch giving up -1.5% to 12,145. By market cap, the large cap S&P 500 ticked down -0.2%, while the mid cap S&P 400 declined -0.8% and the small-cap Russell 2000 finished down -1.3%.
Read MoreWeekly Market Update – May 2, 2022
U.S. Markets: The major U.S. market indexes endured a fourth consecutive week of losses as fears of slowing growth were compounded by disappointing earnings from some market heavyweights like Amazon. The benchmark S&P 500 index fell further into correction territory, now down about 14% from its recent peak, while the technology-heavy Nasdaq Composite and small-cap Russell 2000 Index fell further into their respective bear markets, down roughly 24% from their highs. For the week, the Dow Jones Industrial Average shed 834 points, closing at 32,977, a decline of -2.5%. The Nasdaq Composite declined -3.9% finishing the week at 12,335. By market cap, the large cap S&P 500 gave up ‑3.3%, while the mid-cap S&P 400 fell -3.2%. The small-cap Russell 2000 closed down -3.9%.
Read MoreWeekly Market Update – April 25, 2022
U.S. Markets: The major U.S. equity indexes ended the week lower with particularly steep losses on Friday. The Russell 1000 Growth Index stocks gave up more ground than their Value counterparts, while the large cap S&P 500 Index posted steeper losses than its smaller-cap brethren. The Dow Jones Industrial Average shed 640 points this week, closing at 33,811—a decline of -1.9%. The technology-heavy NASDAQ Composite declined for a third consecutive week falling ‑3.8%. By market cap, the S&P 500 ended down -2.8%, while the midcap S&P 400 gave up -1.7% and the small cap Russell 2000 ended the week down -3.2%.
Read MoreWeekly Market Update – April 18, 2022
U.S. Markets: The major U.S. indexes ended the week mixed in the first week of major corporate earnings reports for 2022. Value stocks continued to outperform their growth counterparts, while small-caps outpaced large caps. The Dow Jones Industrial Average shed 270 points finishing the week at 34,451—a decline of -0.8%. The technology-heavy NASDAQ Composite fell a second week, falling -2.6% to 13,351. By market cap, the large cap S&P 500 declined -2.1%, while the mid cap S&P 400 and small cap Russell 2000 indexes finished up 0.4% and 0.5%, respectively.
Read MoreWeekly Market Update – April 11, 2022
U.S. Markets: The major U.S. indexes finished the week lower with small caps and growth stocks lagging considerably. Sector performance varied widely within the S&P 500 Index, with the typically defensive consumer staples and health care sectors recording solid gains, while information technology, communication services, and consumer discretionary shares registered steep losses. The Dow Jones Industrial Average shed 97 points to finish the week at 34,721. The technology-heavy NASDAQ Composite declined -3.9% to 13,711, giving up its last two weeks of gains. By market cap, the large cap S&P 500 ended down -1.3%, while the mid cap S&P 400 declined -3.4% and the small-cap Russell 2000 dropped -4.6%.
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