Mid-Week Market Minute 12.08.21
Stocks rebounded in early trading this week as investors shrugged off ongoing concerns about the Omicron COVID-19 variant, with the new strain appearing milder than originally thought. In addition, encouraging laboratory data from GlaxoSmithKline and Vir Biotechnology regarding effectiveness against the Omicron variant have also helped bolster sentiment. As of mid-week, the S&P 500 Index […]
Hectic Hump Day
U.S. equities turned sharply lower Wednesday following news that the first domestic Omicron COVID-19 variant case was confirmed in California. The S&P 500 fell 1.2%, while the Dow erased a 520-point gain to end 461 points lower. The Russell 2000 (small cap index) lost 1.8%, officially closing in correction territory (defined as a 10% drop […]
Mid-Week Market Minute 12.01.21
Fears on Wall Street about the new omicron COVID-19 variant coupled with the Federal Reserve debating a more aggressive pace of tapering asset purchases caused stocks in the U.S. to sell off sharply on Tuesday, erasing Monday’s rebound. As expected, volatility spiked, with the CBOE Volatility Index (VIX) surpassing the 27 level for the first […]
Market Recap – Week Ending 11.26.21
Overview: Stocks started last week in positive territory, but gains were erased on Friday as uncertainty over the new COVID-19 Omicron variant drove markets lower. In a thin liquidity trade on Friday, the S&P 500 index traded 2.3% lower and ended the week down 2.2%. International stocks followed suit, as renewed concerns around potential lockdowns […]
Market Recap – Week Ending 111921
Overview: Stocks around the world ended an uneven week of trading with mixed returns, as international stocks fell and U.S. stock returns were marginally positive. In the U.S., the S&P 500 index ended the week 0.4% higher, as strong retail sales and labor data offset inflation and Federal Reserve policy concerns. In economic data, U.S. […]