We hope you all had a great weekend celebrating Father’s Day. Below is your weekly market update.
For the week of June 15th – 19th, the Major indexes finished at the following levels:
- DJIA – 1.1% up
- S&P 500 – 1.9% up
- NASDAQ – 3.7% up
Following a challenging week in the market that saw the major U.S. market indexes down between 3% – 6.5%, the market staged a comeback to get things back on track. Most of the gains in the market came Monday and Tuesday, with the second half of the week being relatively uneventful. Last week, oil eclipsed $40/barrel, up from a recent low in April, of around $19/barrel and strong retail sales led the way early in the week for a positive gain.
For the year, the indexes are as follows, through June 19th:
- DJIA – 8.2% down
- S&P 500 – 3.2% down
- NASDAQ – 11.4% up
The NASDAQ continues to outperform all other major indexes, led by technology. On Friday, the NASDAQ briefly eclipsed 10,000 for only the second time in the index’s history, before closely slightly lower. The S&P 500 continues to rebound nicely as it nears 4% from its own all time high. One key Chinese stock index also went positive last week, becoming one of just a few international indexes in positive territory.
Look for reports this Monday and Tuesday for the Real Estate market to help the economy gain insight on what impact COVID-19 has had on home sales during the typically great spring homebuying season. This will likely shape how our major indexes perform this week.
As always, if you have any questions or you’d like more details on something, please contact us and we’d be happy to provide more information.