DJIA Marks Best Weekly Gainer Since 1938

DJIA Marks Best Weekly Gainer Since 1938

$DIA $SPY $QQQ $RUTX $VXX

Friday, investors took some profits after the American Aid bill was passed and sent to President Trump for signing.

By the end of the session, the DJIA was off 4.1%, S&P 500 and NAS 3.8 shed 3.4% and 3.8% respectively.

The strong gains made on the week drove the DJIA up 12.8% for its best weekly gainer since Y 1938, and the S&P 500 rose 10.3% for its best weekly gainer since Y 2009.

Early Friday, the House of Representatives cleared the American aid/stimulus bill afternoon, sending it to President Trump’s desk to sign, which he did. Then the House adjourned for a long recess and will return later in the Spring to consider further legislation

Losses on the 3 major indices Friday tracked declines in European equities, after EU member countries failed to agree on a concrete plan to address the coronavirus outbreak in the region.

Friday, the major US stock market indexes finished at: DJIA -915.39 to 21636.84, NAS Comp -295.16 to 7501.73, S&P 500 -88.60 to 2541.47

Volume: Trade on the NYSE came in at 1.4-B/shares exchanged

  • NAS Comp YTD: -16.4%
  • S&P 500 YTD: -21.3%
  • DJIA YTD: -24.2%
  • Russell 2000 YTD: -32.2%

HeffX-LTN’s overall technical outlook for the major US stock market indexes if Neutral with a Bullish bias at the week ended 27 March 2020.

Looking Ahead: Pending Home Sales for February Monday.

Have a safe week, stay home!

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