Home   Logon   Portfolio Managers   Research and Commentary   About Us    Contact Us       Follow Us: 

Search by Ticker, Keyword or CUSIP       
Blog Home
Bob Carey
Chief Market Strategist
Click for Bio

Follow Bob on Twitter Follow Bob on LinkedIn View Videos on YouTube

  US Stocks Ended Dec. 9, 2016
Posted Under: Weekly Market Commentary
Supporting Image for Blog Post

Last week the S&P 500 Index advanced further returning 3.13% and showed gains in all five days of trading. The S&P 500 Index has returned 12.87% YTD 2016 and has returned 8.65% since its fourth quarter low on November 4. The index's fourth quarter performance is currently on pace to continue the trend of outperforming the previous quarter's performance as evidenced throughout 2016 (QTD +4.67%, 3Q +3.85%, 2Q +2.46%, 1Q +1.35%). Stocks opened up on Monday following strength in European trading. The financials, information technology and consumer discretionary sectors led the pack as the S&P 500 Index returned 0.59%. Stocks climbed 34 basis points Tuesday on positive economic news with durable goods orders reporting higher than expected and the highest nonfarm productivity number since third quarter 2014. The index had its best day of the week on Wednesday as it returned 1.34% recording a new all-time closing high. Investors continued to show their optimism after the election with expectations for the coming year in job growth and a strengthening economy. Equity markets increased slightly on Thursday returning 23 basis points on the index, but increased enough to post a new high. US initial jobless claims of 258K were higher than the consensus estimate of 255K, but lower than the previous week's 268K. On Friday, the University of Michigan Consumer Sentiment Index reported well above expectations with the highest number since January 2015. Stocks advanced as the S&P 500 Index returned 0.59% and posted a new all-time closing high for the third straight day. Crude oil closed the week at $51.50 a barrel, declining 0.35% from the previous week's close. All eleven economic sectors had positive performance for the week. The financials sector was the best performing sector with a 4.86% return. The information technology and telecommunications services sectors followed with 4.25% and 3.84% returns, respectively. The health care sector's 0.66% return was the worst performance of all the sectors and was followed by industrials and energy which returned 1.91% and 2.30%, respectively. Under Armour Inc., a developer and distributor of branded performance apparel and accessories, turned in the best performance in the S&P 500 Index with a 16.31% gain. The next two best performers were BorgWarner Inc. and Transocean Ltd. with returns of 16.05% and 15.51%, respectively.
Posted on Monday, December 12, 2016 @ 8:08 AM • Post Link Share: 
Print this post Printer Friendly

These posts were prepared by First Trust Advisors L.P., and reflect the current opinion of the authors. They are based upon sources and data believed to be accurate and reliable. Opinions and forward looking statements expressed are subject to change without notice. This information does not constitute a solicitation or an offer to buy or sell any security.
Search Posts
Market Commentary and Analysis
Market Commentary Video
Weekly Market Commentary
Weekly Market Watch
Monthly Talking Points
Quarterly Newsletter
Market Observations
Subscribe To Receive Email

US Economy and Credit Markets Ended Dec. 9, 2016
A Snapshot of Small-Cap Stocks vs. Large-Cap Stocks
Interest Rates Spiked In November And Investment Grade Bond Prices Fell
2017 and a Look at Profitability
US Stocks Ended Dec. 2, 2016
US Economy and Credit Markets Ended Dec. 2, 2016
A Snapshot Of The Two Longest U.S. Equity Bull Markets At The 94-Month Mark
U.S. Crude Oil & Natural Gas Rig Counts Are Trending Higher
2017 and The Priority of Allocation
US Stocks Ended Nov. 25, 2016
Skip Navigation Links.
Search by Topic
Skip Navigation Links.

The information presented is not intended to constitute an investment recommendation for, or advice to, any specific person. By providing this information, First Trust is not undertaking to give advice in any fiduciary capacity within the meaning of ERISA, the Internal Revenue Code or any other regulatory framework. Financial professionals are responsible for evaluating investment risks independently and for exercising independent judgment in determining whether investments are appropriate for their clients.
First Trust Portfolios L.P.  Member SIPC and FINRA. (Form CRS)   •  First Trust Advisors L.P. (Form CRS)
Home |  Important Legal Information |  Privacy Policy |  California Privacy Policy |  Business Continuity Plan |  FINRA BrokerCheck
Copyright © 2023 All rights reserved.