While the Large-Cap indices reached new highs during the week, the tech-heavy NASDAQ had the best week, climbing more than 2.50%. The major indices closed with mixed moves on Monday, as the Dow Jones Industrial Average ended fractionally in the red zone, and the S&P 500 Index and NASDAQ posted gains.
Monday’s trading was light ahead of the Independence Day holiday, which had U.S. markets closed on Tuesday. On Wednesday, the market learned U.S. Factory orders took another step back in May, losing 0.8%, exceeding consensus’ expectations. Stocks ended last week higher, despite falling energy shares..
Investors turned to more defensive stocks like utility companies and other dividend-paying shares, which led the S&P 500 Index to slight gains on Monday. Technology shares led Tuesday’s downswing as the Dow Jones Industrial Average and the S&P 500 saw their biggest daily declines in more than a month.
On Monday, indices closed out trading in the green zone as the Dow Jones Industrial Average and the S&P 500 Index hit new all-time highs with a rebound in the technology sector. The start of the week also saw crude oil prices decreasing, with West Texas Intermediate crude settling at $44.20 a barrel.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains why you might think the market is in a bubble and why it’s actually not.
Henssler Research Analysts, Troy Harmon, CFA, CVA, Nick Antonucci, CVA, and Jacob Keen lead the show in a discussion on a client’s concern on whether or not the market is in a bubble.
The week kicked off with stocks taking a downturn, pulled down by Technology shares, raising some concern that the major indices have been influenced by a few large tech firms.
While some may roll their eyes at Millennials, the truth is that economics and demographics of young adulthood have changed. Read all about it in this week’s Financial Tip.
Indices kicked off the week by closing in the red zone on Monday, with stocks trading slightly lower on a variety of economic news. Revisions to Productivity and Costs were in line with expectations, unchanged from the first quarter.
Henssler Research Analysts Nick Antonucci, CVA, and Jacob Keen preview the week’s economic indicators, including the Producer Price and Consumer Price indices, the Fed’s meeting on monetary policy and Friday’s University of Michigan Consumer Sentiment Survey.
