Despite a slew of strong company earnings reports, concerns about an accelerating spread of COVID-19 in both the U.S. and abroad pushed stocks lower last week. The Dow Jones Industrial Average declined 6.5%, the S&P 500 Index declined 5.6%, and the NASDAQ 100 Index declined 5.5%. The earnings reporting season is rolling on and …
The third quarter earnings reporting season peaks this week with 180 companies in the S&P 500 Index scheduled to report earnings. The current third quarter consensus is for earnings to be down 16.7% year-over-year (versus down 18.7% last week and down 21.7% at the start of earnings season) on a 3.6% decline in revenue. …
The third quarter reporting season moves into its second big week with 91 companies in the S&P 500 Index scheduled to report earnings. Of the 49 companies that have already reported, 85.7% have exceeded consensus expectations versus the long-term average of 65.1%. This has raised the current forecast for earnings to be down 18.7% …
Despite see-sawing news over the progress of stimulus talks and President Trump’s COVID recovery, U.S. equity indices managed to post an impressive gain for the week. The Dow Jones Industrial Average was +3.3%, the S&P 500 Index was +3.9%, and the NASDAQ 100 Index was +4.2%. After several weeks of election and COVID-driven news, …
All major U.S. equity indices were positive for the week. The Dow Jones Industrial Average was +1.9%, while the S&P 500 Index was +1.5% and the NASDAQ 100 Index was +1.0%. It was a dramatic headline week with the Presidential debate, September Employment Report, and the positive COVID tests for the President and First …
The NASDAQ increased 2.0% for the week to snap its three-week losing streak while the S&P 500 fell 0.6%. The S&P 500 Index has declined 5.8% since the beginning of September and the relatively higher technology weighted NASDAQ 100 Index has declined 7.9% over the same time frame. This Friday we get data from …
Stocks posted their third consecutive down week. The downside was felt more in the technology and growth-oriented sectors of the market. The S&P 500 Index has declined 5.17% since the beginning of September and the relatively higher technology weighted NASDAQ 100 Index has declined 9.69% over the same time frame. At its recent meeting, …
Stocks posted back-to-back down weeks despite reaching record highs near the start of September. The downside was felt more in the technology and growth-oriented sectors of the market. The S&P 500 Index has declined 4.55% since the beginning of September and the relatively higher technology weighted NASDAQ 100 Index ihas declined 8.45% over the …
After a long recovery back to record levels, the S&P 500 Index hit a speed bump last week, especially among some of the stocks in the information technology and other technology related sectors that had posted large gains since the market bottom in March. Thursday was the worst downside day of the week, down …
The S&P 500 Index built on its recent record and closed above 3500 for the first time last week. Data indicating that COVID-19 is on the downslope, a supportive Federal Reserve, and a view that the recent second quarter corporate earnings are a likely trough for this cycle all contributed to the optimism. We …
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