Weekly Investment Update: June 22, 2020

Equity markets advanced last week with the S&P 500 returning nearly two percent as investors tracked data on the gradual reopening of the US economy that continued to be “less bad”. For example, despite initial unemployment claims being above one million for the 13th week in a row, the initial claims continue to decline week-over-week, and those with continuing claims have been modestly declining as well since mid-May, though the number remains above 20 million Americans.

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Weekly Investment Update: May 26, 2020

US equities, as measured by the S&P 500 index, advanced nearly 1% last week heading into Memorial Day weekend. Investors continue to grow optimistic regarding the potential for a COVID-19 vaccine as well as the resumption in economic activity as stay-at-home orders and business closures are relaxed. Despite the unprecedented decline in the US economy that is still unfolding, the S&P 500 index is only down 8% for the year and 13% from its all-time closing high of 3,386 set on February 19.

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Weekly Investment Update: May 18, 2020

US equity markets declined slightly more than 2% last week as investors monitor the gradual process for individual states to reopen their economies.  The S&P 500 index has trended sideways for the last month, remaining rangebound between approximately 2,800 and 2,900 after advancing roughly 30% through April 17 from the recent low marked on March 23. 

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Weekly Investment Update: May 11, 2020

US equity markets advanced more than 3% last week as investors eyed signs of hope that the recession caused by the COVID-19 virus may be short-lived. Despite a dismal April employment report and large year-over-year declines in first quarter corporate earnings, signs of new treatments for the virus and plans for reopening businesses buoyed market sentiment.

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