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 June 8, 2020
Posted Under: Weekly Market Commentary

 
After a weekend of peaceful protests and violent riots, stocks opened higher on Monday on optimism for a quicker than expected economic recovery. The S&P 500 closed out last week higher by almost 5%, erasing the losses incurred since the beginning of March. The market recovery was observed in small and mid-cap stocks with the S&P MidCap 400 and Russell 2000 both up over 8% last week. Investors eagerly anticipated Friday mornings job report as fears of a depression like surge in unemployment could vault the economy into a prolonged slide. Economists consensus estimates were a -7.5 million jobs lost, but in an unprecedented reversal the number came in at +2.5 million growth in payrolls. Moving to monetary policy, the Federal Reserve had promised to make it easier for corporations to gain access to financing throughout the pandemic. In response to the Fed, companies have borrowed a record $1.1 trillion dollars since the beginning of the year. The increased borrowing is nearly twice the pace set back in 2019. After a failed House bill to pump an additional $3.5 trillion stimulus dollars into the US economy, President Donald Trump said he would ask congress for more economic stimulus to aid in the recovery. The new stimulus is expected to be closer to $1 trillion dollars. The president's top economic advisor, Larry Kudlow, remarked that there could be a return-to-work incentive as one option to deliver the funds. Looking ahead to next week, economic releases include CPI and PdPI as well as the Federal Reserve Open Market Committee's decision on interest rates.
Posted on Monday, June 8, 2020 @ 8:17 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 June 8, 2020
The Buy And Hold Investment Strategy Is Not Dead!
Passive Investment Vehicles Have Posted The Strongest Asset Growth Since The End Of 2007
US Stock Markets Ended May 29, 2020
US Economy and Credit Markets Ended May 29, 2020
A Snapshot Of The Growth In ETF/ETP Assets
How Stocks Have Fared Since Donald J. Trump Was Elected President
US Stock Markets Ended May 22, 2020
US Economy and Credit Markets Ended May 22, 2020
A Global Snapshot Of Government Bond Yields
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 © 2020 All rights reserved.