Economic Update
Market Week: January 4, 2021
The Markets (as of market close December 31, 2020)
Stocks jumped to record highs last Monday after President Trump signed a pandemic relief package into law. The S&P 500, the Dow, and the Nasdaq closed the day at record highs as investors saw the stimulus relief as a boost to economic recovery. Only the small caps of the Russell 2000 failed to advance, ending the day down 0.4%. Treasury yields rose, crude oil prices fell, and the dollar was mixed. Several market sectors climbed higher, led by communication services, consumer discretionary, and information technology.
Annual Market Review 2020
Annual Market Review 2020
Over the past 12 months, we have endured a global pandemic resulting in numerous deaths and hospitalizations, mass layoffs, a sinking economy, and a contentious presidential election. Our lives and lifestyles changed, where working and learning from home became the “new normal,” and in-person communication was replaced by virtual meetings. In short, 2020 was a very memorable year that tested our resolve, patience, and courage.
Market Week: December 28, 2020
The Markets (as of market close December 24, 2020)
Stocks rallied by the end of the day last Monday, paring losses from a morning plunge. Strength in bank stocks and financials helped stem the tide as the other major market sectors generally sank. Investors were hit with news that a new strain of the COVID virus was moving rapidly through the United Kingdom, prompting a major sell-off in European stocks. Crude oil prices and Treasury yields fell, while the dollar advanced.
Market Week: December 14, 2020
The Markets (as of market close December 11, 2020)
The Nasdaq opened the week by reaching a new high last Monday after climbing for the ninth straight day. Otherwise, stocks tumbled, as the rapid rise in COVID-19 cases had investors worried that more restrictions might be forthcoming. The Global Dow and the Dow each fell 0.5%, followed by the S&P 500 (-0.2%) and the Russell 2000 (-0.1%). Communication, technology, and utilities were the only sectors to gain ground. Treasury yields and crude oil prices declined, while the dollar was mostly higher.
Market Week: December 7, 2020
The Markets (as of market close December 4, 2020)
November closed on a sour note as investors took profits from stocks last Monday. The Russell 2000, which gained more than 18.0% in November, fell nearly 2.0% on the day. The Global Dow dropped 1.7%, followed by the Dow (-0.9%), the S&P 500 (-0.5%), and the Nasdaq (-0.1%). Treasuries and the dollar advanced, while crude oil prices fell. Health care and information technology were the only market sectors to post gains. Energy, financials, industrials, and utilities each dropped at least 1%.
Market Month: November 2020
The Markets (as of market close November 30, 2020)
Despite a downturn on the last day of the month, stocks rebounded impressively in November from a moribund performance in October. Several of the benchmark indexes reached record highs during November as investors shifted slightly from tech stocks to shares influenced by economic cycles.
Market Week: November 30, 2020
The Markets (as of market close November 27, 2020)
Last Monday saw stocks advance following encouraging news in the development of yet another COVID-19 vaccine. The Russell 2000 climbed nearly 2.0%, followed by the Dow, the Global Dow, the S&P 500, and the Nasdaq. Treasury yields and crude oil prices surged, while the dollar was mixed. Among the market sectors, energy jumped higher, followed by industrials, financials, materials, and consumer discretionary. Health care, information technology, and real estate fell.
Market Week: November 23, 2020
The Markets (as of market close November 20, 2020)
Last week began with more good news on another COVID-19 vaccine, sparking a rally in domestic and global stocks. The Dow set a record as it neared the 30,000 mark, with cyclicals and small caps advancing on hopes of a speedier economic recovery. The Russell 2000 and the Global Dow each gained more than 2.0%, while both the Dow and the S&P 500 added more than 1.0%. The Nasdaq advanced 0.8%. Among the market sectors, energy, financials, and industrials surged. Crude oil prices and Treasury yields climbed, while the dollar slipped.
Market Week: November 16, 2020
The Markets (as of market close November 13, 2020)
Stocks soared to record highs last Monday following an announcement from a major pharmaceutical company of positive data on a COVID-19 vaccine. That news, coupled with President-elect Joe Biden’s win, helped buoy investor optimism. Cyclicals and bio-tech stocks led a powerful rally, which drove the Dow up 3.0%. The S&P 500 added 1.2%, the Russell 2000 climbed a robust 3.7%, and the Global Dow shot up 4.2%. The Nasdaq lost value as money moved from tech stocks to value shares. Energy shares jumped more than 14%, while financials advanced more than 8.0%. Crude oil prices, the dollar, and Treasury yields all rose.
Market Week: November 9, 2020
The Markets (as of market close November 6, 2020)
Stocks rebounded last Monday with each of the benchmark indexes gaining value, led by the Russell 2000, which added 2.0%, followed by the Global Dow, the Dow, the S&P 500, and the Nasdaq. Treasury yields fell while the dollar and crude oil prices advanced. It is unclear what drove the market uptick. Some analysts suggest investors may see fiscal relief coming shortly after the election, while others proffer that the market gains were nothing more than dip-buying following last week’s selloff. Each of the major market sectors ended the day in the black, with energy and materials each advancing more than 3.0%.