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Wall Street to Your Street

Market update from Thrivent, March 27, 2020

It’s been quite a week—and even that feels like an understatement. Tuesday through Thursday represented the largest three-day gain in the S&P 500 ever, and that’s in percentage terms, not just in points. The index jumped 17.55% during that period, exceeding the second-largest three-day advance of 13.95% in November of 2008. Even though the S&P 500 dropped more than 3% today, this week represented the biggest weekly advance since the 1930’s. One question you may have–one that has been discussed quite a bit in the financial news the past couple days–is how to invest during a sharp short-term rally in a market that is still down more than 20% since mid-February.

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Market update from Thrivent, March 26, 2020

U.S. markets continued their strong rebound on hopes a more than $2 trillion rescue plan will keep the U.S. economy afloat and bolster the fight against the coronavirus pandemic. The S&P 500 stock index rallied for the third consecutive day after plunging more than 34%. The S&P posted a 6.2% return and now is up 17.6% from Monday’s close. European and many emerging markets stock indices also rose.

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Market update from Thrivent, March 25, 2020

The U.S. federal government is set to pass a massive financial support and stimulus bill that is unprecedented in size and scope. At $2 trillion, which is equivalent to approximately 10% of annual gross domestic product (GDP), the bill is far larger than any single federal government program (as a percentage of GDP) since the Great Depression. This is in addition to two much smaller measures that were passed in the past two weeks.

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Market update from Thrivent, March 24, 2020

Equity markets soared today with the S&P 500 bouncing more than 9% and the Dow Jones Industrial Average posting its best day since 1933 with an 11.4% gain. Energy, financials and industrials—including airlines—led the way. U.S. markets were catalyzed by expectations of the passing of an unprecedented Congressional spending bill totaling roughly $2 trillion. Additionally, intervention by the Federal Reserve helped stabilize fixed income market functioning. Lower valuations, following a 34% plunge in the S&P 500 from the high reached last month, drew in investors. The market was primed for a near-term reversal as sentiment readings for key markets, such as S&P 500 futures, were near or at record-low negative readings. International equities markets also rose, with key Asian and European markets rising between 4% to 11%.

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