The S&P 500 declined for the fourth straight week. On Wednesday, the index of large U.S. companies had declined just more than 9.5% but rallied late in the week. The S&P 500 is 7.8% below its Sept. 2 high. The four-week decline has matched the characteristics of a price adjustment a …
Retail sales figures continued a string of economic data pointing toward slowing growth accompanied by a gradual reopening of state economies. Consumers seem willing to take some risks. Retail and food service sales rose 0.6% last month. (See Chart 1.) Increased sales at restaurants contrib …
Stocks continued to retreat as losses on Tuesday were large enough to push the market down more than 2% for the second week in a row. The S&P 500 has retraced 6.7% of its massive rally from the lows in March.
Investors were reminded stock investing comes with volatility as the S&P 500 dropped 3.5% on Thursday and declined 2.3% for the week. The downside pressure was felt most directly by stocks that had performed best. Figure 1 shows the best performing stocks this year (furthest to the righ …
The Federal Reserve announced a major policy revision last week. The revised strategy indicates rates will stay low for a long period of time and will increase slower than in past rate cycles. The report and a subsequent speech by Fed Chair Jay Powell indicate the Fed will allow inflation t …
The S&P 500 continued to march higher, rising 0.8% last week. Excluding dividends, the index of large-cap U.S. stocks reached a new record. Some investors prefer this measure for determining when bear markets end. By almost any measure, the S&P 500 is no longer in a bear market.
U.S. economic data last week supported the view the U.S. is entering a period of slower economic growth after a sharp recovery in May and June. Mandatory and voluntary social distancing efforts limit how quickly the economy can recover when certain segments, such as restaurants, are still s …
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