July 27 - 31, 2020 Recap
Stocks Post Solid Gains
U.S. benchmark S&P 500 equities rebounded last week, resuming a bullish trend after falling 0.27% the week prior. Stocks ended Friday with solid gains, lifted by stellar earnings reports from four of the five largest U.S. companies. Investor sentiment had earlier weakened after a downbeat reading on consumer confidence, adding to concerns over a record-setting 32.9% year-over-year plunge in America’s gross domestic product (GDP).
For the week, the S&P 500 climbed 1.75%, the Nasdaq Composite jumped 3.70%, while the Dow Industrials slipped 0.16%. The S&P 500 posted its fourth consecutive monthly gain, up 5.6% last month.
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.