July 20 - 24, 2020 Recap
S&P Snaps Three-Week Rally
U.S. equities ended lower last week with the S&P 500 posting its first weekly loss in four weeks as investors turned cautious amid increased tensions with China. Wall Street was also concerned over an uptick in weekly jobless claims as rising numbers of new COVID-19 cases led to more state-ordered business closures.
For the week, the Dow Industrials fell 0.76%, the S&P 500 slipped 0.27%, and the Nasdaq Composite dropped 1.33%, its second straight weekly decline.
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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