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
 

  US Stock Markets Ended Oct. 23, 2020
Supporting Image for Blog Post

 
Stocks ended the week slightly lower than last week reversing consecutive weekly gains for the S&P 500. Technology was the laggard sector in the index returning -2.21% versus -0.51% in the S&P 500. Small cap stocks bucked a longer term trend by outperforming their large cap peers. The Russell 2000 posted a gain of 0.42% last week on the strength of positive earnings results. In Washington, renewed talks of a stimulus package had the market pointing upward on Friday. Coming off Thursday's final presidential debate, House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin pointed at each other to bring their respective sides back to the bargaining table. Speaker Pelosi said it was up to the President to persuade the GOP to agree to any potential package. A surge in positive Covid tests in the Midwest, at a rate three times worse per capita than the Northeast, coupled with rising positivity rates and hospitalizations signaled the outbreaks possible expansion outside of the region. Covid hospitalizations in New York topped 1000, the highest total since June. Hospitals in counties bordering the emerging hot spot state of Pennsylvania were among the notable datapoints. Looking ahead to next week, the largest names in tech are set to report quarterly earnings. Investors will have the companies outlooks on their radar as the largest technology names have driven market sentiment over the past few years. On the economic calendar, new home sales and durable goods are set to hit the tape on Monday and Tuesday, respectively.
Posted on Monday, October 26, 2020 @ 8:05 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 ANALYSIS
Market Commentary and Analysis
•Market Commentary Video
•Weekly Market Commentary
•Weekly Market Watch
•Monthly Talking Points
•Quarterly Newsletter
•Market Observations
Subscribe To Receive Email
 


 PREVIOUS POSTS
• US Economy and Credit Markets Ended Oct. 23, 2020
• S&P 500 Index Dividend Payout Profile
• How Stocks Have Fared Since Donald J. Trump Was Elected President
• US Stock Markets Ended Oct. 16, 2020
• US Economy and Credit Markets Ended Oct. 16, 2020
• Low U.S. Consumer Credit Default Rate A Nice Tailwind For Discretionary Stocks
• A Global Snapshot Of Government Bond Yields
• US Stock Markets Ended Oct. 9, 2020
• US Economy and Credit Markets Ended Oct. 9, 2020
• Many Investors Could Be Underweight U.S. Mid- & Small-Cap Stocks
Archive
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.