Once again, the major indices moved higher last week despite the on-going focus on the coronavirus. The Nasdaq (2.21%) led the major indices followed by the Russell 2000® Index (1.87%), the S&P 500® Index (1.58%) and the Dow Jones Industrial Average (1.02%). On Thursday, China announced revised diagnostic criteria for the virus; the change increased the number of cases to 66,492 with 1,523 deaths. The news unsettled the markets on Thursday, with modest gains in the Nasdaq and S&P 500®… View More
Last week, corporate earnings, and China’s announcement of a 50% tariff reduction on some U.S. products, provided momentum amidst coronavirus uncertainties. The Nasdaq (4.04%) led the major indices for the week followed by the S&P 500® Index (3.17%), the Dow Jones Industrial Average (3.00%) and the Russell 2000® Index (2.65%). The January employment report, 225,000 jobs added, far exceeded expectations of 161,500. Wage growth remains modest: 0.2% for the month for a 3.1% (+0.1%) annual i… View More
This week, uncertainties related to the global economic impact of the coronavirus overwhelmed the markets; the virus, first discovered in Wuhan China, has spread to at least 18 countries with almost 10,000 confirmed cases including 213 deaths. On Thursday, the World Health Organization declared an international health emergency; on Friday, the U.S. declared the virus a public health emergency. Friday’s 603 point selloff in the Dow Jones Industrial Average marked the largest one-day decline in … View More
The potential global impact of the coronavirus upstaged the markets’ focus on earnings and economic data. The deadly virus has spread far beyond its origination in Wuhan China; as of Friday, over 900 cases (including 26 deaths) have been confirmed in 11 countries. On Friday, the unknown reach of the virus triggered a market selloff which was the largest decline since October 8, 2019. For the week, the Russell 2000® Index (‑2.20%) posted the biggest decline followed by the Dow Jones Industri… View More
The indices rose last week on the strength of the signing of Phase One trade agreement with China, the Senate’s passage of the USMCA agreement, positive economic reports and a good start to earnings season. The Russell 2000® Index (2.53%) led the major indices, followed by the Nasdaq (2.29%), the S&P 500® Index (1.97%) and Dow Jones Industrial Average (1.82%). On Wednesday, the U.S. and China signed the Phase One agreement; details of the deal address several long-standing concerns by th… View More