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 Feb. 28, 2020
Posted Under: Weekly Market Commentary
Supporting Image for Blog Post

The S&P 500 Index entered correction territory last week declining 11.44%, its worst performance since early October 2008. The index has delivered seven consecutive negative trading days, eliminating the 2020 gains and is down 8.27% YTD. Equity markets reflected anxiousness over the spread of the coronavirus as the World Health Organization increased its global risk level. The virus has contributed to uncertainty in global financial markets as companies continue to evaluate the virus's impact on their operations and supply chains, causing some investors to adjust their expectations downward for 2020. Equity markets showed no place to hide as all economic sectors closed down more than 10% with the exception of communication services at -9.45%. Crude oil closed at $44.76 per barrel on Friday, declining 16.15% for the week as fears of a global slowdown hurt the energy sector most, returning -15.37%. The University of Michigan Consumer Sentiment Index revealed high U.S. consumer optimism for February, though last week's slide could affect the confidence reading in March. U.S. initial jobless claims of 219K were higher than the consensus estimate of 212K and the previous week's claims of 210K. Only two stocks in the S&P 500 Index showed positive returns for the week. Regeneron Pharmaceuticals Inc., a biopharmaceutical company, was the best performing stock in the index, up 10.27%. The company and the U.S. Department of Health and Human Services are engaged in developing a treatment for the coronavirus. Airline and cruise line companies reflected the negative impact the virus is beginning to have on current and future travel. American Airlines Group Inc. showed the worst performance for the week with a -31.52% return. Other major airlines and cruise lines that declined over 20% include Alaska Air Group Inc., United Airlines Holdings Inc., Delta Air Lines Inc., Royal Caribbean Cruises Ltd., and Norwegian Cruise Line Holdings Ltd, with Carnival Corp losing 19.74%. This week, equity markets could remain volatile as investors process last week's decline.
Posted on Monday, March 2, 2020 @ 8:12 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 Feb. 28, 2020
The Climate For U.S. Crude Oil
The Yield On The 10-year Treasury Note Just Revisited Its All-Time Low
US Stock Markets Ended Feb. 21, 2020
US Economy and Credit Markets Ended Feb. 21, 2020
Keep An Eye On Gold, Silver And The Miners
S&P 500 Index Earnings & Revenue Growth Rate Projections View
US Stock Markets Ended Feb. 14, 2020
US Economy and Credit Markets Ended Feb. 14, 2020
A Snapshot Of Bond Valuations
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.