Weekly Market Commentary
Cut Day
Stocks rallied back last week in anticipation of an easing in monetary policy to be announced this week. For the week, the S&P 500 was +4.1%, the Dow was +2.6%, and the NASDAQ was +6.0%. Within the S&P 500 Index, the Technology, Consumer Discretionary, and Communication Services sectors led the market. The Energy, Financial, and Consumer Staples sectors lagged. The 10-year U.S. Treasury note yield decreased to 3.659% at Friday’s close versus 3.717% the previous
Game On
September started with downside pressure in the equity markets. For the week, the S&P 500 was -4.2%, the Dow was -2.9%, and the NASDAQ was -5.9%. Within the S&P 500 Index, Consumer Staples and Real Estate were the only two positive sectors for the week. The worst performing sectors were Technology, Energy, and Communication Services. The 10-year U.S. Treasury note yield decreased to 3.717% at Friday’s close versus 3.918% the previous week. The August Employment
Back to Work
The equity markets were mixed in the final week of August. For the week, the S&P 500 was +0.3%, the Dow was +1.1%, and the NASDAQ was -2.0%. Within the S&P 500 Index, the Financials, Industrials, and Materials sectors led the market, while the Technology, Communication Services, and Consumer Discretionary sectors lagged. The 10-year U.S. Treasury note yield increased to 3.918% at Friday’s close versus 3.804% the previous week. The July Personal Consumption Expenditures (PCE)
The Time Has Come
The equity market finished higher on the week as Fed Chair Jerome Powell said the time has come for monetary policy to adjust. For the week, the S&P 500 was +1.5%, the Dow was +1.3%, and the NASDAQ was +1.1%. Within the S&P 500 Index, the Real Estate, Materials, and Consumer Discretionary sectors led the market, while the Energy, Technology, and Communication Services sectors lagged. The 10-year U.S. Treasury note yield decreased to 3.804% at
Bounce
The equity market bounce continued last week. For the week, the S&P 500 was +4.0%, the Dow was +3.0%, and the NASDAQ was +5.4%. Within the S&P 500 Index, the Technology, Consumer Discretionary, and Financial sectors led the market, while the Real Estate, Communication Services, and Utilities sectors lagged. The 10-year U.S. Treasury note yield decreased to 3.888% at Friday’s close versus 3.932% the previous week. July inflation readings in the Consumer Price Index (CPI)
Rapid Movement
The S&P 500 Index fell sharply last Monday, down 3% on the day, but slowly gained that back over the course of the week to finish near flat. For the week, the S&P 500 was unchanged, the Dow was -0.6%, and the NASDAQ was +0.4%. Within the S&P 500 Index, the Industrial, Energy, and Communication Services sectors led the market, while the Materials, Consumer Discretionary, and Utility sectors lagged. The 10-year U.S. Treasury note yield