Home   Logon   Mobile Site   Research and Commentary   About Us   Call 1.800.621.1675 or Email 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

  Stocks Ended Aug. 5, 2016
Posted Under: Weekly Market Commentary
Supporting Image for Blog Post

Equities closed in positive territory to open the month of August. The index posted a 0.65% return for the week and has gained 8.19% YTD.  Oil continued a bear market decline heading into Wednesday, but rallied from Tuesday's close of $39.51 to $41.80 at the close on Friday. Stocks followed oil's move starting on Wednesday after crossing the $40 a barrel mark. The NASDAQ Composite Index closed at a record high on Friday. Investors demanding risker assets have piled into technology and biotech companies as fears of a US recession, driven by a slowdown in global growth, have subsided. The NASDAQ Composite's record close has improved investors outlook as the S&P 500 and Dow Jones Industrial Average have also moved past last year's highs. Momentum should remain a driver for stocks now that the major indexes continue to exceed their high watermarks. The information technology sector was the best performing sector with a 1.74% return. The financials and industrials sectors followed with 1.53% and 0.43% returns, respectively. The utilities sector -2.64% return was the worst performance of all the sectors and was followed by telecommunication services at -1.82%. Mallinckrodt PLC., a pharmaceutical manufacturer, turned in the best performance in the S&P 500 Index with an 18.79% gain.  The company announced Q3 earnings on Tuesday and the stock jumped 14.16% on the news. The next two best performers were Ball Corp and Teredata Corp with returns of 12.00% and 11.17%, respectively.
Posted on Monday, August 8, 2016 @ 8:07 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 Aug. 5, 2016
The Best-Performing Sectors Spanning The Past 12 Months, Brexit Fallout & Post-Brexit Fallout
Utilities Looking A Bit Rich After Staging Strong Rally In 2016
Stocks Ended July 29, 2016
US Economy and Credit Markets Ended July 29, 2016
Expected Earnings and Future Profitability
Foreign Sales Dipped For The Big Multinational Companies In 2015
Consumer Stocks Have Outperformed The Broader Market Over The Past 10 Years
Stocks Ended July 22, 2016
US Economy and Credit Markets Ended July 22, 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.