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Stocks Ended Sept. 2, 2016
Equities climbed 0.42% through the first two trading days of September. The index posted a 0.56% return for the week and has gained 8.27% YTD. Economic data has kept equities trading within a narrow band as price volatility is close to a two-year low. The jobs report will have a significant impact on the Fed's future rate decision in the coming months. Even with the employment number coming in below consensus, the pace of the jobs growth has been steady and a key driver to US and global growth. Oil traded lower through Thursday, then rebounded to close out the week at $44.44, which was still lower than last Friday's $47.64 closing price. The financials sector was the best performing sector with a 2.03% return. The telecommunication services and materials sectors followed with 1.01% and 0.97% returns, respectively. The health care sector's -0.56% return was the worst performance of all the sectors and was followed by energy at -0.49%. United Continental Holdings Inc. an airline, turned in the best performance in the S&P 500 Index with a 9.0% gain. The company announced a key hire from rival American Airlines (AAL). The next two best performers were CF Industries and The Mosaic Co. with returns of 8.17% and 6.85%, respectively.
Tuesday, September 6, 2016 @ 10:01 AM
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.