MARKET NEWS
Here is the market update for the last week, Sept. 28th – Oct. 2nd.
- DJIA – up 1.9%
- S&P 500 – up 1.5%
- NASDAQ – up 1.5%
With all three major markets up between 1-2% last week, we snapped a 4 week decline in the markets. The declines in the month of September, however, snapped 5 straight months of gains following the big first quarter declines triggered by the pandemic. The president tested positive for COVID-19 late last Thursday, which sent the market down Friday as the country continues to brace for more uncertainty heading into the election. Additionally, congress has still failed to pass a stimulus bill, which makes it increasingly less likely that a bill will be passed before November 3rd.
For the year, the markets are:
- DJIA – down 1.3%
- S&P 500 – up 5.1%
- NASDAQ – up 24.3%
The performance of the NASDAQ from April through September was the best the index has done over two consecutive quarters since 2000 and the S&P 500’s best results since 2009. Earnings season is right around the corner as the quarter ended last week. Expectations are low but seen in a better light recently. Expect corporate earnings and increasing political tensions to drive the market’s performance over the next month.
The content in this post was approved while The Tranel Financial Group was affiliated with a previous firm. The views and opinions expressed are those of The Tranel Financial Group at the time of filming and do not necessarily reflect the views of Harbour Investments, Inc.. This material has not been reviewed or approved by Harbour Investments, Inc. and is not intended as a solicitation or recommendation. The data and analysis do not represent the expected future performance of any investment product or strategy. Investments involve risks, including possible loss of principal. The Tranel Group currently offers securities and advisory services through Harbour Investments, Inc. Member SIPC.
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