December 24, 2020 Weekly Market Update. The U.S. equity markets finished the holiday shortened-trade week mixed with the Nasdaq up +0.4% while the S&P 500 and Dow Jones Industrial ebbed slightly down by -0.2% and -0.1%, respectively. Congressional Republicans halted an effort by Democrats to increase the stimulus checks in the coronavirus aid package to $2,000, as proposed by President Trump earlier this week. New weekly jobless claims fell unexpectedly but remain elevated at 803,000. The U.S. has vaccinated just 1 million people out of a goal of 20 million for December.
December 20, 2020 Weekly Market Update. For the week, the Nasdaq gained +3.05% followed by the S&P 500 Index +1.25% and Dow Jones Industrial Average +0.44%. The U.S. equity markets continue to show optimism toward the prospects of a trillion-dollar range coronavirus package and the effectiveness of two virus vaccines currently being rolled-out. Other sanguine developments for the week were housing's continue rebound (new starts up another +1.2%), 7th straight monthly increase U.S. leading index (rose 0.6% to 109.1 in Nov) and the national unemployment rate dropping to 6.7%.
December 12, 2020 Weekly Market Update. On news of COVID relief package delays and new disagreements between the House (state & local aid) and Senate (corporate liability coverage), all major U.S. equity indexes declined for the week: Dow Jones Industrial Average -0.57%, the Nasdaq -0.69% and the S&P 500 Index -0.96%. Hence, with diminished expectations for a fresh round of stimulus the markets retrenched after three weeks of upticks; energy was the lone sector to trade up, while technology and real estate were the laggards.
December 5, 2020 Weekly Market Update. For the second week in a row, and for four out of the past five weeks, all U.S. equity markets rallied on news that Biden-Pelosi-McConnell are pushing for a stimulus package by year-end; including the prospects of another stimulus check put back in play. Accordingly, the Nasdaq led the indices with a gain of +2.12%, followed by S&P 500 Index +1.67% and the Dow Jones Industrial +1.03%. Also, in an effort to offset the negative economic virus impact, the FDA Advisory Committee will meet on December 10th to determine the likely approval of Pfizer/BioNTech vaccine’s Emergency Use Authorization. The manufacturing recovery jumped into gear in November with production growth kicking into the highest for over six years with a 56.7 posting in November, up from 53.4 in October. Additionally, construction spending beat estimates after a posting a +1.3% rise over the previous month.
December 20, 2020 Weekly Market Update. For the week, the Nasdaq gained +3.05% followed by the S&P 500 Index +1.25% and Dow Jones Industrial Average +0.44%. The U.S. equity markets continue to show optimism toward the prospects of a trillion-dollar range coronavirus package and the effectiveness of two virus vaccines currently being rolled-out. Other sanguine developments for the week were housing's continue rebound (new starts up another +1.2%), 7th straight monthly increase U.S. leading index (rose 0.6% to 109.1 in Nov) and the national unemployment rate dropping to 6.7%.
December 12, 2020 Weekly Market Update. On news of COVID relief package delays and new disagreements between the House (state & local aid) and Senate (corporate liability coverage), all major U.S. equity indexes declined for the week: Dow Jones Industrial Average -0.57%, the Nasdaq -0.69% and the S&P 500 Index -0.96%. Hence, with diminished expectations for a fresh round of stimulus the markets retrenched after three weeks of upticks; energy was the lone sector to trade up, while technology and real estate were the laggards.
December 5, 2020 Weekly Market Update. For the second week in a row, and for four out of the past five weeks, all U.S. equity markets rallied on news that Biden-Pelosi-McConnell are pushing for a stimulus package by year-end; including the prospects of another stimulus check put back in play. Accordingly, the Nasdaq led the indices with a gain of +2.12%, followed by S&P 500 Index +1.67% and the Dow Jones Industrial +1.03%. Also, in an effort to offset the negative economic virus impact, the FDA Advisory Committee will meet on December 10th to determine the likely approval of Pfizer/BioNTech vaccine’s Emergency Use Authorization. The manufacturing recovery jumped into gear in November with production growth kicking into the highest for over six years with a 56.7 posting in November, up from 53.4 in October. Additionally, construction spending beat estimates after a posting a +1.3% rise over the previous month.