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Wall Street to Your Street
Market update from Thrivent, March 23, 2020
March 23, 2020 | Mark Simenstad, CFA, Chief Investment Strategist
The current market environment feels like we’re all living the 1993 movie, “Groundhog Day”, where Phil (played by Bill Murray) wakes up to the same news and goes through the same routine day after day. Unfortunately for many of us, we’re waking up, staying most of the day in the same house or apartment, watching the same news of volatile markets lurching to ever lower levels by the end of each day. In the movie, Phil, previously cynical and self-absorbed, discovers he can use this “time warp” to build relationships, help others and even explore some long-dormant interests. Hopefully, we can all see and experience some “silver lining” benefits through the current dark clouds of uncertainty and anxiety.
Market update from Thrivent, March 20, 2020
March 20, 2020 | Mark Simenstad, CFA, Chief Investment Strategist
It was another extremely volatile and technically oriented day in the markets, driven predominantly by developments in the global coronavirus situation, but also by actions of the Federal Reserve and some by technical conditions in the derivatives markets.
Market update from Thrivent, March 19, 2020
March 19, 2020 | Steve Lowe, CFA, Head of Fixed Income
Equity markets enjoyed a welcomed respite today from the extreme volatility of the past several days. U.S. markets stayed in a relatively tight range, ending moderately up on the day. Energy was the standout as the benchmark for U.S. oil (WTI crude) surged nearly 25%, recording its largest gain ever. This is attributed to reports that the Trump administration is considering intervening in the oil price war between Saudi Arabia and Russia.
Market update from Thrivent, March 18, 2020
March 18, 2020 | David Royal, Chief Investment Officer
It was another volatile day in the markets today (Wednesday). Even though the markets closed well above their session lows, the Dow Jones Industrial Average was still down 6.3%, the S&P 500 was down 5.2%, the tech-heavy Nasdaq was down 4.7%, and the Russell 2000 small cap index was down over 10%. And as I reflect on the day, I feel a bit like I do after a good workout—exhausted but energized, calm but focused.