October 5 - 9, 2020 Recap
Equities More than Erase September Losses
U.S. equity averages posted gains a second week, with the S&P 500 registering its strongest weekly gain since July as investors were encouraged that negotiators were moving closer toward providing more fiscal stimulus. The Federal Reserve has been calling for more fiscal relief to help sustain the economic recovery. A bevy of merger deals announced last week also boosted investor sentiment.
For the week, the S&P 500 advanced 3.89% and the tech-heavy Nasdaq Composite surged 4.57%, while the Dow Jones Industrial Average climbed 3.27%. In back-to-back weekly gains, the S&P 500 gained 5.50%. Small cap stocks outperformed the broader market with the Russell 2000 surging 6.40%.
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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