Weekly Stock Market Update

Last Week Recap:

Last week we finally saw a reversal from the profit taking we saw for most of September. The markets were up led by the Russell 2000 (4.42%) while the S&P 500 was up 1.54%. The positive momentum was likely in part to due possible progress on the next round of stimulus talks leading to continued pressure on the dollar and uptick in interest rates. The real estate sector was up 5%, followed by financials and utilities both up 3.3%. The only sector in the red was energy down 2.8%. We were still up on the week despite a sell off on Friday once it was announced that President Trump tested positive for Covid-19. We are also starting to see the markets price in some possible implications from the elections as we've seen renewable energy outperforming.

This Week:

As of now it looks like we are starting this week up following that sell off on Friday. Over the weekend the markets continued to monitor the health of President Trump as we received conflicting comments on his status. However, it was positive to see him leave the hospital on Sunday. The President's health, the Supreme Court nomination and the battle for fiscal stimulus will continue to dominate the headlines.


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