Economic Update
Market Week: September 21, 2020
The Markets (as of market close September 18, 2020)
Stocks rebounded to begin last week on a positive note, as each of the benchmark indexes listed here posted notable gains by the close of trading last Monday. Tech stocks surged, pushing the Nasdaq up 1.9%. Hopes for a COVID-19 vaccine moved pharmaceutical shares higher. Energy shares fell as crude oil prices dropped. The dollar declined, while Treasury yields moved slightly higher.
Market Week: September 14, 2020
The Markets (as of market close September 11, 2020)
Stocks continued to slide last Tuesday as falling tech shares pulled the Nasdaq down 4.1%. Crude oil prices plunged 7.5%, and Treasury yields sank 5.1% as money poured into bonds, driving prices higher. Investors, leery of overvaluations, continued to sell off shares. The relationship between the United States and China continued to sour as President Trump threatened recourse against American companies that create jobs overseas or that do business with China. By the close of trading, the S&P 500 lost 2.8%, the Dow fell 2.3%, the Russell 2000 lost 2.0%, and the Global Dow sank 1.6%.
Market Month: August 2020
The Markets (as of market close August 31, 2020)
The positive run for stocks continued in August as the major market indexes regularly reached all-time highs. While investors remained bullish toward equities, it wasn’t always clear why.
Market Week: September 8, 2020
The Markets (as of market close September 4)
Stocks sagged last Monday, but not enough to dampen a banner month of returns in August. Only the
Nasdaq pushed ahead to start the week as the remaining benchmark indexes lost value. Crude oil prices,
Treasury yields, and the dollar all declined.
Last Tuesday marked the first day of September and the start of another strong market performance. Each
of the benchmark indexes listed here posted solid gains, led by the Nasdaq (1.4%), the Russell 2000
(1.1%), the Dow (0.8%), the S&P 500 (0.8%), and the Global Dow (0.1%). Rising bond prices drove
Treasury yields lower. Crude oil prices and the dollar rose. Surging mega-caps gave the market a boost, as
did materials, technology, and communications.
Market Week: August 31, 2020
The Markets (as of market close August 28, 2020)
Last week began with a bang. The Dow climbed 1.4% to reach 28,300 for the first time since February. Investors were encouraged by word that the Trump administration may push the Food and Drug Administration to approve vaccines and treatments for the COVID-19 virus. While the rhetoric may be more bark than bite, it was enough to push market indexes to record highs. The Nasdaq advanced 0.6%, and the S&P 500 rose 1.0%, each reaching all-time highs. The Russell 2000 gained 1.0%, and the Global Dow picked up 1.5%. The dollar, Treasury yields, and crude oil prices all rose. Sectors that enjoyed a strong start to the week were energy, financials, and industrials. Technology and health care also posted modest advances.
Market Week: August 24, 2020
The Markets (as of market close August 21, 2020)
Tech stocks rallied last Monday, and the S&P 500 once again spent some of the day above its record high, only to tail off by the end of trading. The Nasdaq jumped 1.0%, thrust higher by a surge in mega-tech stocks. The Dow fell 0.3%, the S&P 500 gained 0.3%, the Russell 2000 climbed 0.5%, and the Global Dow inched ahead 0.1%. Industrials fell, pulled lower by falling airline, aerospace, and defense stocks. Energy shares also dropped, despite a bump higher in crude oil prices. The dollar and Treasury yields declined by the close of trading last Monday.
Market Week: August 17, 2020
The Markets (as of market close August 14, 2020)
Stocks started the week mostly higher as investors anticipated additional virus stimulus relief. Value stocks, industrials, and energy shares outperformed mega-cap tech stocks last Monday. Of the benchmark indexes listed here, only the Nasdaq lost value. The S&P 500 closed the day 0.3% higher, marking the seventh consecutive day of positive returns. The Dow vaulted 1.3%, followed by the Russell 2000, which gained 1.0%. Treasury yields, crude oil, gold, and the dollar all climbed by the end of trading last Monday.
Market Week: August 10, 2020
The Markets (as of market close August 7, 2020)
Last week began with stocks vaulting higher for the tenth Monday in a row. The Nasdaq reached a record high as tech stocks surged. The dollar gained value following a poor July while prices for Treasuries dipped pushing yields higher. Investors were encouraged by news of progress made toward another round of financial stimulus to further help offset the financial and economic toll resulting from the pandemic. Of the indexes listed here, the Russell 2000 led the way, climbing 1.8%, followed by the Nasdaq, the Dow, the Global Dow, and the S&P 500, which advanced 0.7% by the end of last Monday’s trading.
Market Week: August 3, 2020
The Markets (as of market close July 31, 2020)
Equities continued their positive run of Mondays by posting solid gains again to start last week. The technology sector led the Nasdaq to power ahead by 1.7%. The small caps of the Russell 2000 advanced 1.2%, and the large caps of the S&P 500 (0.7%) and the Dow (0.4%) also climbed higher last Monday. Crude oil prices and Treasury yields rose, while the dollar declined. Gold prices continued to soar as it reached its highest level in history, a possible indication that investors view the economy as stagnating.
Market Month: July 2020
The Markets (as of market close July 31, 2020)
Stocks posted gains in July in spite of gloomy news on the economic and pandemic fronts. Investors continued to trust equities despite the gross domestic product falling nearly 33.0% in the second quarter, mixed quarterly corporate earnings results, emerging pandemic hot spots, growing unemployment claims, and ongoing turmoil between the United States and China.