Weekly Market Bullets
for the week ending 9/4/2020
  • After touching all-time highs again early in the week, US Equity Markets sold off sharply amid significant profit-taking, especially among the mega-cap Technology stocks. As a result, the S&P 500 declined 2.3% for the week to reduce its gains for the year to 6.0%. The Nasdaq fell 3.3% for the week though still remains up 26.1% for the year, while the Russell 2000 (small-cap stocks) dropped 2.7% for the week and is down 8.0% for the year.

  • Global Equity Markets followed the US lead, with profit-taking across the board with declines in Technology leading the way. Developed Markets fell 2.2% for the week and are now down 8.1% for the year. Emerging Markets decreased 2.0% for the week, hurt as well from a notable 8% drop in energy prices. For the year, Emerging Markets are now negative, down 1.4%.

  • US Economic Data was positive last week, buoyed by strong employment-related numbers. Payroll gains for August totaled 1.37 million, as furloughed workers increasingly were called back to work. The Unemployment Rate for August dropped to 8.4% from 10.2% in July. Measures of US Manufacturing activity and US Services activity both showed continued expansion in August and exceeded market expectations.
Of Interest to Us
  • The month of September is historically the weakest month for equity market returns. From 1980 to 2019, the average return for the S&P 500 in the month of September is -0.70%. By contrast, April is historically the best month for market returns, with the S&P 500 up an average of 1.51%.
Market Data
for the week ending 9/4/2020
If you have questions about the markets or would like to talk about your investments, please contact me at bfontana@invtrust.com or via phone at 704.940.3544.
Investors Trust Company helps its clients make sound financial decisions by providing strategic advice and asset management services with a high level of personalized attention. If we may help you or your clients with their investment management needs, please contact one of our Relationship Team members at trust@invtrust.com.