January 6 – 10 Recap
Stock Pare Gains on Jobs Miss
The longest-lasting bull market in history displayed remarkable resilience last week, posting weekly gains despite tumultuous geopolitical and military interactions with Iran. After Iran’s promised retaliation proved to be limited with no resulting U.S. casualties, investor sentiment recovered, buoyed by trade optimism and world growth prospects. Even the monthly payrolls report that showed wages and jobs growth cooled last month wasn’t enough to overly dampen investor sentiment.
For the week, the Dow Industrials rose 0.66%, the S&P 500 gained nearly 1% (+0.98%), and the Nasdaq Composite advanced 1.76%. On Friday, the Dow slipped 0.46% after momentarily breaking above 29,000 for the first time and the S&P 500 slipped 0.27%, ending the week just short of its all-time high set on Thursday.
The Weekly Recap is published by Cetera Investment Management LLC, an SEC registered adviser owned by Cetera Financial Group. Cetera Investment Management provides market perspectives, portfolio guidance, model management, and other investment advice to its affiliated broker-dealers, dually registered broker-dealers and registered investment advisers.
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