Stocks Ended Sept. 30, 2016

Equities barely moved higher in September with the S&P 500 up 0.02%. The index posted a 0.20% return for the week and has gained 7.84% YTD. After opening lower on Monday, stocks climbed through Wednesday, retreated Thursday and ended up relatively flat for the week through Friday. Deutsche Bank helped boost market sentiment as the bank is reportedly nearing a deal to pay a $5.4 billion settlement to the U.S. Department of Justice. This amount is less than half the amount originally requested by the DOJ. The Euro moved higher, while treasuries and gold fell as investors' risk appetites have increased. The energy sector was the best performing sector with a 4.64% return as oil closed out the week at 48.01, a 7.94% gain. On Thursday, OPEC announced an agreement to limit crude output following a multiple year decrease in oil prices. Industrials and materials sectors followed with 1.05% and 0.98% returns, respectively. The utilities sector's -3.76% return was the worst performance of all the sectors and was followed by health care at -1.40%. Transocean Inc an offshore drilling contractor, turned in the best performance in the S&P 500 Index with a 17.14% gain. The company moved higher with oil prices on the news that suppliers will cap production. The next two best performers were Helmerich & Payne and Murphy Oil Corp with returns of 16.86% and 16.56%, respectively.
Posted on Monday, October 3, 2016 @ 9:22 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.