Equities Spooked by Record Infections11/02/2020

Share:

Latest - Insights Latest - Insights Latest - Insights Latest - Insights Latest - Insights

October 26 - 30, 2020 Recap

Pullback Intensifies
U.S. stock indexes closed lower on Friday, capping the benchmark S&P 500 with its worst weekly rout since the depths of the pandemic in mid-March and its worst-ever loss leading into a presidential election. Wall Street was put off by prospects for a second wave of viral lockdowns, a breakdown in fiscal stimulus negotiations, and uneven earnings data, especially among tech mega caps. Month-ending COVID-19 daily infections reached a record 99,300 on Friday.

Weekly Performance
For the week, the S&P 500 sank 5.62% and the tech-heavy Nasdaq Composite lost 5.50%. The Dow Industrials retreated nearly 1,834 points, representing a 6.47% loss. The S&P 500 sold off -2.7% in October, ending Friday 8.5% below its September highs.

Latest - InsightsCIM Weekly Recap 110220.pdf Latest - Insights

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.

Latest News - Latest Insight Detail - Subscription

Want more insights like this, sent straight to your inbox?

Subscribe to email updates from Cetera and be well informed about what’s happening within the market and the financial services industry overall.

Drop Us a Line

Looking to be part of something more? Get in touch to learn about the benefits of affiliating with Cetera and start taking the next steps to a stronger future.