Equities Erase Weekly Gain05/04/2020

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April 27 – May 1, 2020 Recap

Stocks Finish Week Fractionally Lower
Stocks erased all their gains for the week amid sharp losses Friday after a pair of mega-cap tech bellwether companies reported less-than-ideal first quarter earnings and warned of uncertainty ahead. Despite some month-end selling on Thursday, the S&P 500 wrapped up its strongest month in 33 years and the Dow Industrials had its best April performance since 1938.

Weekly Performance
For the week, the Dow Industrials fell 0.22%, the S&P 500 slipped 0.19%, and the tech-heavy Nasdaq Composite trimmed gains by 0.33%.

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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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