Week of 10/30/17 – 11/03/17:
Last week wrapped up the busiest part of the earnings season with most companies having now reported. Large caps continued the recent stretch of gains extending the streak of new record highs for the S&P 500, Dow, and Nasdaq.
The Nasdaq led the way last week adding nearly 1% while the S&P and Dow a gained 0.29% and 0.45% respectively. Small stocks didn’t fair quite as well, own 0.87% as benchmarked by the Russell 2000.
Global stocks recorded gains led by emerging markets, which rallied back from a couple lackluster weeks to add 1.45%. The ACWI and EAFE closed the week up 0.67% and 0.92%
While headlines were primarily focused on earnings releases, investors also continued to monitor the political landscape, especially the announcement of a new Fed chairman –
Rates decreased for the first time in several weeks while the dollar added to it’s recent rally.
The 10 year closed just north of 2.3% while munis and corporates also rallied. Energy and Technology stocks responded the best to last week’s earnings releases,
while telecoms saw a major decline.