U.S. stocks finished last week once again on a positive note. For the Dow and S&P500 it was the fifth straight week of gains and the third straight for the tech heavy Nasdaq. The three major indices hit record intraday highs on Friday and ultimately posted gains for the session.
Happy Columbus Day! U.S. stock markets are open today but the bond markets are closed for the holiday. The result will probably be a lighter than usual trading day for U.S. stocks.
The world woke up this morning to the tragic news of the worst mass shooting in U.S. history. More than 50 people are reported dead and over 400 injured in Las Vegas after a gunman opened fire from his 32nd floor hotel room into a crowd at a country music concert on Sunday evening.
After soaring to record highs in the prior week, US equity markets were mostly flat last week. The tech-heavy Nasdaq exchange, which has outpaced other US benchmarks in 2017, was negative on the week, while the S&P500 and Dow Jones Industrial Average inched higher.
U.S. equities are continuing their winning ways kicking off the week firmly in positive territory. On Friday, the Dow logged its fourth consecutive record close and sixth straight gain. At the same time, the S&P500 closed with its 34th record high of 2017. For the week, both the Dow and S&P500 were up 2.16% and 1.58% respectively.
U.S. stocks are in rally mode this morning as we wake up to news that Hurricane Irma, although a powerful and damaging storm, didn’t pack the punch that many experts were predicting. Here in the early going, both the Dow and S&P500 are pushing gains of 1% after finishing last week in the red.
The big story grabbing attention across the globe this morning is the destruction of Hurricane Harvey. Harvey slammed into the coastal areas of Texas over the weekend causing widespread flooding and forcing energy facilities to shut down.
US stocks logged their second consecutive weekly loss last week as investor confidence slumped on the heels of a terrorist attack in Barcelona and continued political volatility in Washington. The Dow Jones Industrial Average paced the losses with a decline of -0.8% on the week, while the S&P500 and Nasdaq both fell -0.6%.
It was another record setting week on Wall Street last week. The Dow Jones Industrial Average stretched its daily win streak to nine consecutive days on Friday, closing out with a 1.2% weekly advance while closing above 22,000 for a new record high. The S&P500 eked out a weekly gain of 0.2% while the Nasdaq finished down slightly.
U.S. stocks continue to show resiliency following a week of less than stellar earnings reports and concerning geopolitical factors around the world. Early in the session this morning, the Dow is continuing to trade in record territory, up over .25%, while the S&P500 and Nasdaq are edging lower.