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Wall Street to Your Street
Market update from Thrivent, March 27, 2020
March 27, 2020 | David Royal, Chief Investment Officer
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.
Market update from Thrivent, March 26, 2020
March 26, 2020 | Steve Lowe, CFA, Head of Fixed Income
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.
Market update from Thrivent, March 25, 2020
March 25, 2020 | Mark Simenstad, CFA, Chief Investment Strategist
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.
Market update from Thrivent, March 24, 2020
March 24, 2020 | Steve Lowe, CFA, Head of Fixed Income
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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