Earnings Season Continues
Submitted by Little & Associates Wealth Management on July 23rd, 2018On Friday, July 20, stocks lost a small amount of ground after President Trump escalated his threats of increasing tariffs on China.
On Friday, July 20, stocks lost a small amount of ground after President Trump escalated his threats of increasing tariffs on China.
Last week, trade tensions with China lessened somewhat, while the 2 nd quarter corporate earnings season started with mixed results.
Domestic stocks only traded for 4 days last week, due to the Independence Day holiday. In that time, all 3 major domestic indexes posted positive results for the week.
International trade concerns continue to create uncertainty in markets around the world. [1] Despite the markets' slight rises on Friday, June 29, they recorded losses for the week.
Stocks stumbled across the globe last week as trade tensions continued to escalate. Despite rebounding somewhat on Friday, the S&P 500 experienced its first weekly loss in a month, and the Dow posted its worst week since March.
Last week stocks showed mixed results as political headlines continued to dominate the news. The Dow lost 0.89% and the S&P 500 was almost flat with a 0.02% gain. The NASDAQ, on the other hand, reached a record high on Thursday and ended the week up 1.32%. Both the S&P 500 and NASDAQ experienced their 4 th week of gains in a row.
As last week ended, tension between the U.S. and some of its greatest allies was on the rise. Trade remained a hot-button topic ahead of the G-7 meeting in Canada, but investors seemed largely unfazed by the drama.[1]
Markets experienced heightened volatility this week, with the S&P 500 rising 0.49% and Dow dropping 0.48%. Meanwhile, the NASDAQ rose 1.62%, as international markets took a small dip, with the MSCI EAFE losing 1.10%.
Geopolitical uncertainty affected stocks last week, as the historic summit between the U.S. and North Korea began to look less likely. On Thursday, May 24, President Trump announced that the summit was off, and stocks stumbled in reaction. The next day, Trump said the meeting might still occur next month, leaving investors questioning the eventual outcome.[1]
Major domestic indexes went down last week after all three gained more than 2% the previous week.[1] The S&P 500 dropped 0.54%, the Dow gave back 0.47%, and the NASDAQ lost 0.66%.[2] International stocks also stumbled; the MSCI EAFE decreased by 0.61%.[3]