Month: August 2020

August 30th 2020

Market Review

In U.S. stocks ended another week with solid gains. The Dow Jones Industrial Average rose 2.6% over the week to close at 28,653.87. The S&P 500 jumped 3.3 percent for the week to finish at 3,508.01. The broad index closed its fifth straight week of gains for the first time this year. The benchmark is also on pace for its best August since 1984 when the index gained 10.63%. The Nasdaq closed at 11,695.63 and advanced 3.4% over the past five days, its fifth straight positive week for the first time since January. Apart from utilities, all key S&P sectors ended in positive territory for the week. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, closed near 23. Read More

August 23rd 2020

Market Review

In line with our strategic call, U.S. stocks finished the week in positive territory with two benchmarks hitting record highs. The Dow Jones Industrial Average closed at 27,930.33 and finished the week nearly flat. The S&P 500, in contrast, rose 0.7% over the week to finish at 3,397.16, a new record closing high. The broad index posted its longest winning streak since the week ending December 27, 2019 when the market rose for five straight weeks. The Nasdaq Composite jumped 2.7% during the week and closed also at a fresh record closing high of 11,311.80. It was the tech-heavy benchmark's 36th record close in 2020. Among the key S&P sectors, the technology sector was the best weekly performer, while energy dragged. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 22.5. Read More

August 16th 2020

Market Review

In line with our recent call, U.S. averages finished another week in positive territory (despite Friday’s muted trading action). The Dow Jones Industrial Average recorded an 1.8% weekly gain to end at 27,931.02. The S&P 500 booked a weekly climb of 0.6%, closing at 3,372.85. The Nasdaq climbed less than 0.1% since last Friday’s close and finished at 11,019.3. Among the key S&P sectors, the industrials sector was the best weekly performer, while utilities dragged. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, ended at 22.05. Read More

August 9th 2020

Market Review

After a short consolidation period at the beginning of the week, all three U.S. major indexes continued to push significantly higher for the week. The Dow Jones Industrial Average added 3.8% in five trading days to close at 27,433.48. The S&P 500 jumped 2.5% for the week, to finish at 3,351.28. The Nasdaq also rallied 2.5% to end at 11,010.98. All key S&P sectors ended in positive territory, led by industrials. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, dropped to 22.2. Read More

August 2nd 2020

Market Review

Apart from the Dow Jones Industrial Average, major U.S. averages finished the week with strong gains. The Dow Jones Industrial Average dropped 0.2% from the week-ago close to 26,428.32, whereas the S&P 500, in contrast, recorded a 0.8% gain over the week and finished at 3,271.12. The Nasdaq Composite jumped 3.7% for the week to end at 10,745.27. The major equity averages also wrapped up the month of July with solid gains and posted their fourth straight positive month. The Dow Jones Industrial Average gained 2.3% in July, while the S&P 500 and the Nasdaq Composite rose 5.5% and 6.8%, respectively. Among the key S&P sectors, technology was the best weekly performer, while energy dragged. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 24.5. Read More