July 6 – 10, 2020 Recap
Stocks Climb to One-Month Highs
The Dow Industrials and S&P 500 respectively posted their second consecutive weekly gains while the tech-heavy Nasdaq Composite again jumped to a new all-time high. Global markets gained amid encouraging signs among experimental COVID-19 vaccines and treatments, even as rising numbers of new infections continue to weigh on investors’ hopes for a swift economic recovery. The second quarter earnings season begins this week.
For the week, the Dow Industrials gained 0.96%, the S&P 500 advanced 1.79%, and the Nasdaq Composite surged 4.02%. The S&P 500 narrowed the pullback from its February 19 all-time high to 5.19% and ended the week less than 0.4% away of pulling even for the year.
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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