May 18 – 22, 2020 Recap
Small Caps Outperform
Equities rallied into the close Friday to cap a volatile but positive week as investors weighed business reopening news and plans against a backdrop of rising U.S.-China tensions. Dr. Anthony Fauci, the nation’s leading viral expert, said now is the right time to gradually reopen the U.S. economy.
For the week, the Dow Industrials gained 3.29%, the S&P 500 rallied 3.27%, and the Nasdaq Composite rallied 3.48%. The small cap-focused Russell 2000 surged 7.87% for its best weekly performance since April 9. The S&P 500 has rebounded over 32% from its March 23 closing low and ended the week just 12.2% below its February 19 all-time high.
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.