Weekly Economic Updates

The Markets (as of market close July 30, 2021) Equities retreated last week despite strong corporate earnings data. European and Asian stocks slid following China’s regulatory crackdown aimed at large tech companies. Although corporate earnings generally have been solid, last… Read More

The Markets (as of market close July 23, 2021) Last week proved to be a choppy one for stocks. The week began with stocks trending lower on news of a spike in the number of coronavirus cases. However, strong corporate… Read More

The Markets (as of market close July 16, 2021) Stocks suffered their worst week in quite some time, as each of the major indexes ended the week lower. Last week was the start of the second-quarter corporate earnings reporting period…. Read More

The Markets (as of market close July 9, 2021) Stocks closed the week with mixed returns. The Nasdaq, the Dow, and the S&P 500 closed out the week ahead, while the Global Dow and the Russell 2000 lost value. Treasury… Read More

The Markets (as of market close July 2, 2021) Stocks ended last week generally higher, with the Nasdaq, the S&P 500, and the Dow each climbing more than 1.0%, while the Russell 2000 and the Global Dow lost value. Information… Read More

The Markets (as of market close June 25, 2021) The week ended with all the major benchmark stock indexes posting gains. The small caps of the Russell 2000 led the way, followed by the Dow, the S&P 500, the Global… Read More

The Markets (as of market close June 18, 2021) The week ended with each of the benchmark indexes losing ground. The small caps of the Russell 2000 fell the furthest, followed by the Global Dow, the Dow (which dropped for… Read More

The Markets (as of market close June 11, 2021) Stocks closed generally higher last week, with the Russell 2000 and the Nasdaq leading the benchmark indexes, followed by the S&P 500. Both the Dow and the Global Dow lost value…. Read More

The Markets (as of market close June 4, 2021) Last week ended with the benchmark indexes scoring gains, led by the Global Dow, followed by the Russell 2000, the Dow, the S&P 500, and the Nasdaq. Favorable jobs data may… Read More

The Markets (as of market close May 28, 2021) Although last week had its ups and downs, stocks closed generally higher. The Russell 2000 climbed 2.4%. Tech stocks drove the Nasdaq 2.1% higher last week, followed by the S&P 500,… Read More

The Markets (as of market close May 21, 2021) Stocks closed the week generally lower, with only the Nasdaq eking out a gain, in what proved to be a volatile week of trading. The Dow dropped 0.5%, followed by the… Read More

The Markets (as of market close May 14, 2021) Despite a late-week rally, stocks weren’t able to recover from the losses suffered earlier in the week. The major benchmark indexes all fell, led by the Nasdaq, which dropped 2.3%, and… Read More

The Markets (as of market close May 7, 2021) For the week, the markets seem to have been aided by strong first-quarter earnings reports and declining unemployment claims. However, a lower-than-expected number of new hires in April may lend credence… Read More

The Markets (as of market close April 30, 2021) For the week, stocks couldn’t maintain record highs reached earlier, despite strong corporate earnings reports. Only the S&P 500 and the Global Dow were able to end the week in positive… Read More

The Markets (as of market close April 23, 2021) The possibility of a capital gains tax hike proposed by U.S. federal government sent stocks reeling last week. However, bargain hunters plucked enough low-hanging stocks to push several of the benchmark… Read More

The Markets (as of market close April 16, 2021) Last week, investors were confronted with a pause in the distribution of the Johnson & Johnson COVID-19 vaccine, the potential for rising inflation, and the likelihood of higher taxes to offset… Read More

The Markets (as of market close April 9, 2021) Investors remained confident that the Federal Reserve would continue to support the economy, even as signs of inflationary pressures were evident. Overall, stocks advanced last week, with the Nasdaq climbing more… Read More

The Markets (as of market close April 1, 2021) A late-week surge pushed stocks higher overall last week. The Nasdaq, which had been weakening as investors retreated from tech shares, climbed 2.6%. The small caps of the Russell 2000 continued… Read More

The Markets (as of market close March 26, 2021) Equities ended the week mixed, with large caps outperforming small caps. The S&P 500 (1.6%) and the Dow (1.4%) advanced, while the Russell 2000 (-2.9%) and the Nasdaq (-0.6%) could not… Read More

The Markets (as of market close March 19, 2021) The risk of rising inflation continued to influence investors last week, as they weigh that risk against the prospects of an accelerating economy. We saw the major stock market benchmarks lose… Read More

The Markets (as of market close March 12, 2021) Investors generally preferred cyclicals and value stocks over tech shares last week. Nevertheless, stocks ended the week higher, with each of the major benchmark stock indexes gaining at least 2.5%, led… Read More

The Markets (as of market close March 5, 2021) Investors looking for low-hanging values drove stocks higher last Monday and Friday — enough to push a few of the major stock market indexes into the black by the end of… Read More

The Markets (as of market close February 26, 2021) Stocks closed the week and the month of February lower. All major stock indexes lost value last week, headed by the tech stocks of the Nasdaq, followed by the Russell 2000,… Read More

The Markets (as of market close February 19, 2021) Despite a late-week surge, stocks were mixed to lower last week. The Dow and the Global Dow closed ahead, while the Nasdaq, the Russell 2000, and the S&P 500 lost value…. Read More

The Markets (as of market close February 12, 2021) Overall, last week saw all of the benchmark indexes advance by at least 1.0%. The Russell 2000 led the way, followed by the Global Dow, the Nasdaq, the S&P 500, and… Read More

The Markets (as of market close February 5, 2021) By the close of trading last week, each of the major stock benchmark indexes posted solid gains following the previous week’s sell-offs. Strong earnings reports, encouraging employment data, and hopes for… Read More

The Markets (as of market close January 29, 2021) The week saw a new type of market risk due to “cyberbulling” — a scenario where retail investors acting together online agree to buy certain stocks, which can create extreme volatility… Read More

The Markets (as of market close January 22, 2021) Inauguration week was a good one for equities. Each of the major equity indexes posted solid to impressive gains, led by the Nasdaq and followed by the Russell 2000, the S&P… Read More

The Markets (as of market close January 15, 2021) For the week, only the small caps of the Russell 2000 posted a gain, as the remaining indexes fell. The yield on 10-year Treasuries ended the week about where it began,… Read More

The Markets (as of market close January 8, 2021) Stocks climbed to all-time highs last week as investors latched on to political statements that trillions of dollars in further aid and stimulus could happen. The market’s strong performance came despite… Read More

The Markets (as of market close December 31, 2020) The last week of December and 2020 was generally a good one for stocks. Only the small caps of the Russell 2000 failed to post a gain. The remaining benchmark indexes… Read More

The Markets (as of market close December 24, 2020) Christmas week resulted in mixed returns for stocks. The Russell 2000 led the way, followed by the Nasdaq and the Dow. The S&P 500 and the Global Dow dipped. Overall, investors… Read More

The Markets (as of market close December 18, 2020) Despite the ongoing negotiations over additional fiscal stimulus, investors continued to see value in stocks, pushing each of the benchmark indexes higher last week. The Nasdaq and the Russell 2000 enjoyed… Read More

The Markets (as of market close December 11, 2020) Stocks closed generally lower for the week, led by the Global Dow, followed by the S&P 500, the Nasdaq, and the Dow. The small caps of the Russell 2000 posted a… Read More

The Markets (as of market close December 4, 2020) Equities closed the week posting impressive gains by the close of trading last Friday. The Russell 2000 advanced 2.3%, the Global Dow climbed 1.1%, the S&P 500 gained 0.9%, the Dow… Read More

The Markets (as of market close November 27, 2020) Optimism over favorable vaccine reports provided encouragement for investors over the holiday-shortened week. Several of the benchmark indexes hit record highs last week, continuing an upward trend in the market. The… Read More

The Markets (as of market close November 20, 2020) By the end of last week, after ups and downs throughout the week dominated by Covid news, the small caps of the Russell 2000 and the Global Dow posted notable gains,… Read More

The Markets (as of market close November 13, 2020) Stocks closed the week on a high note as cyclicals and value stocks prevailed over tech shares. The Dow and the S&P 500 each gained 1.4%, the Global Dow rose 1.1%,… Read More

The Markets (as of market close November 6, 2020) Despite last Friday’s tepid returns, stocks enjoyed their best week since April. Investors may have been anticipating a divided federal government. This scenario might lead to additional fiscal stimulus but marginal… Read More

The Markets (as of market close October 30, 2020) For the week, each of the major indexes fell by at least 5.5%. The Dow led the weekly tumble, followed by the Russell 2000, the Global Dow, the S&P 500, and… Read More

The Markets (as of market close October 23, 2020) Earnings reporting season is in full force and the results have been mixed, which certainly impacted stock values. For the week, the major indexes were mixed with the Global Dow and the… Read More

The Markets (as of market close October 16, 2020) Stocks climbed this week to their highest levels in more than a month. For the week, the Dow, the Nasdaq, and the S&P 500 posted moderate gains, while the Global Dow… Read More

The Markets (as of market close October 9, 2020) Equities rebounded last Wednesday as the president appeared to soften his stance on halting stimulus negotiations until after the election. Each of the major indexes listed here climbed higher, led by… Read More

The Markets (as of market close October 2, 2020) Despite the drop last Friday, stocks still managed to gain over the prior week. The Russell 2000 climbed 4.4%, followed by the Dow, which gained 1.9%. The S&P 500 climbed 1.5%,… Read More

The Markets (as of market close September 25, 2020) Equity gains at the end of the week weren’t enough to push the benchmark indexes ahead of the prior week’s closing values. Only the Nasdaq posted a weekly gain. The S&P… Read More

The Markets (as of market close September 18, 2020) Overall, stocks lost value for the week. Mixed signals from the federal government as to whether and when a virus vaccine would be available, coupled with the Federal Reserve’s assessment of… Read More

The Markets (as of market close September 11, 2020) Overall, the major stock indexes fell for the second week in a row. Tech stocks continued to fall, ending a five-month rally. The Nasdaq had its worst week since March. Global… Read More

The Markets (as of market close September 4, 2020) For the week, early gains in stocks weren’t enough to overcome losses later, as all of the major stock indexes lost value. The Nasdaq fell 3.3%, followed by the Russell 2000… Read More

The Markets (as of market close August 28, 2020) For the week stocks posted solid gains, led by the Nasdaq, and followed by the S&P 500, the Global Dow, the Dow, and the Russell 2000. Investors were buoyed by optimism… Read More

The Markets (as of market close August 21, 2020) For the week, the Nasdaq advanced 2.7%, followed by the S&P 500, which gained 0.7%. After reaching a record high last Tuesday, the S&P 500 recorded the fastest recovery from a… Read More

The Markets (as of market close August 14, 2020) Stocks started the week mostly higher as investors anticipated additional virus stimulus relief, and the market enjoyed another positive week of growth. Each of the major stock benchmark indexes posted gains,… Read More

The Markets (as of market close August 7, 2020) Last week began with stocks vaulting higher for the tenth Monday in a row. The Nasdaq reached a record high as tech stocks surged. The dollar gained value following a poor… Read More

The Markets (as of market close July 31, 2020) Equities continued their positive run of Mondays by posting solid gains again to start last week. The technology sector led the Nasdaq to power ahead by 1.7%. The small caps of… Read More

The Markets (as of market close July 24, 2020) Last week started off on a high note as stocks reached levels not seen since February. Investors were encouraged by signs out of Washington that additional stimulus was on the way…. Read More

The Markets (as of market close July 17, 2020) Stocks surged early last Monday only to fall back by the end of the day. Earlier in the day, the S&P 500 reached its highest level since the COVID-19 pandemic sent equities reeling…. Read More

The Markets (as of market close July 10, 2020) Last Monday proved to be a good start to the week for equities as all benchmark indexes posted solid gains. The Nasdaq reached a record high as surging tech stocks drove… Read More

The Markets (as of market close July 2, 2020) Domestic stocks surged last Monday, as a robust pending home sales report overshadowed an increase in COVID-19 cases. Pending sales of existing homes soared over 44% in May, a record-setting rate… Read More

The Markets (as of market close June 26, 2020) The week began with the stock market picking up where it left off the previous week. Stocks advanced in value, led by the tech-heavy Nasdaq. Last Monday’s run marked the seventh… Read More

The Markets (as of market close June 19, 2020) Equities began the week edging higher following the Federal Reserve’s announcement that it would buy corporate bonds under an emergency lending program. The Russell 2000 closed up 2.3%, the Nasdaq gained… Read More

The Markets (as of market close June 12, 2020) Last week began with a bang for stocks with each of the major indexes gaining well over 1.0% for the day. The S&P 500, after climbing 1.2%, has picked up nearly… Read More

The Markets (as of market close June 5, 2020) Despite nationwide protests and U.S.-China tensions, stocks rose to start the week. Apparently, investors focused on progress toward economic recovery instead of other pressing issues. Small caps of the Russell 2000… Read More

The Markets (as of market close May 29, 2020) With the stock market closed last Monday in observance of Memorial Day, Tuesday’s trading led to solid returns for the stock market. The S&P 500 climbed past the 3000 mark for… Read More

The Markets (as of market close May 22, 2020) The major benchmarks opened the week on a high note, led by the Russell 2000, which gained more than 6.0%. The large caps of the Dow (3.85%) and S&P 500 (3.15%)… Read More

The Markets (as of market close May 15, 2020) Stocks opened the week with mixed returns. The S&P 500 stayed level, the Dow fell by almost half a point, and the Nasdaq finished the day up three-quarters of a percent…. Read More

The Markets (as of market close May 8, 2020) Investors seem to be continuing to move toward stocks despite unfavorable economic data. New scientific and medical developments in the battle against COVID-19 offer some hope. Last Monday saw stocks rebound from losses… Read More

Stocks closed lower on Friday, and for the week. But for proper context, they just finished their best month in decades with the Dow up 11.08%, the S&P up 12.68%, and the Nasdaq up 15.44%. So nobody should be surprised… Read More

Stocks soared yesterday on encouraging test results for a treatment on the coronavirus. Reports that Gilead’s drug Remdesivir performed well in a controlled study lifted the market. That news was cheered as it gets us one step closer to beating… Read More

Wall Street is becoming increasingly positive this morning on the idea that a vaccine might be available this year by Pfizer. Momentum in vaccine development would be an incremental catalyst on top of economic restarts. A vaccine could allow individuals to interact… Read More

Morning Market Commentary: Governments and central banks everywhere have pledged to support the global economy. Countries in Europe and U.S. states are pushing to restart their economies. The sooner asset managers think the outbreak is under control, the sooner they… Read More

Roughly one-third of the S&P 500 Index reports earnings this week. Investor cash levels continue to creep higher. Decent to better than expected earnings and guidance could prove to be a positive catalyst for the stock market. This is a… Read More

Stocks ended narrowly mixed after spending much of the day solidly in the green. Yesterday’s Weekly Jobless Claims report showed another 4.43 million people filed for unemployment. Another big, ugly number. But it was better than last week’s 5.2 million…. Read More

Is the bear market over, and a new bull market has begun? The Dow, on March 26th, after just 11 days in bear market territory (the shortest bear market ever), came roaring back to close up by 21.3% from its… Read More

The historic slump in oil completely ruined Wall Street’s rising euphoria. Investors fretted over possibilities that the plunge in crude would impact the oil and gas sector, adding to the recessionary fears sparked by the coronavirus outbreak. But a new… Read More

Stocks closed lower yesterday after getting dragged down by no demand for oil worldwide. The idea being, once the world economy begins to reopen, some of the excess oil will finally get used and demand will rise. Moreover, production will be down… Read More

The COVID-19 outbreak is a classic black swan event, in that it came out of the blue and the global economy will not be the same even when it fades away. The virus disrupted the intricate workings of globalization that… Read More

U.S. stocks surge after a report said a Gilead Sciences drug showed some effectiveness in treating the coronavirus, giving investors some hope there could be a treatment solution that helps the country reopen faster from the widespread shutdowns that have… Read More

Stocks pulled back yesterday but finished off their lows. As it becomes clear the worst of the outbreak is behind us, the focus remains on opening up the economy. It will likely be on a rolling basis. Lesser hit states… Read More

Different countries will adopt different approaches to ending shutdowns but a common theme is likely to be that restrictions are phased out gradually by sector and, perhaps, region. The extent to which this is accompanied by new mass testing programs… Read More

In the last six weeks the markets have seen the best of times and the worst of times: From February 19 to March 23, the U.S. stock market saw the quickest meltdown in history, for a loss of 33.9% on… Read More

Stocks closed solidly higher on Thursday (the last trading day of the week since markets were closed on Good Friday) and sharply higher for the week. In fact, it was one of the best weeks in decades, in spite of it being a… Read More

The Dow exited its bear market on March 26th, when it closed up by more than 20% from its lowest close. Currently, the Dow is now up 26.04% from its lowest close. The S&P finally followed suit and exited its… Read More

We closed lower on Friday, and lower for the week. But remain well off the lows from the previous week. The big news on Friday was the Employment Situation report. As expected, it was ugly, with a loss of -701,000… Read More

March was really awful. That’s all you can really say about the month. The COVID-19 crisis unfolded in Europe and the U.S. suddenly and accelerated very quickly sending markets into a tailspin not seen since 2008. There was literally nowhere… Read More

A recession is likely, yet compared to recent weeks, there are encouraging signs in fiscal policy response and market activity. We are now likely at the lower end of leverage in the system and the volatility associated with recent deleveraging… Read More

Required Minimum Distributions Are Waived In 2020 Section 2203 of the CARES Act amends IRC Section 401(a)(9) to suspend required minimum distributions (RMDs) during 2020. The relief provided by this provision is broad, and applies to Traditional IRAs, SEP IRAs,… Read More

Congressional Stimulus is Approved The $2trn stimulus package agreed by Congress will include a permanent fiscal expansion worth up to 5% of GDP and, in conjunction with the new lending facilities announced by the Fed, could channel up to $6trn… Read More

In February, I met and had lunch with Joe Davis, Vanguard’s Global Chief Economist, and he was kind enough to send me his latest thoughts on his forecast of the US Economy. JOE DAVIS Vanguard Global Chief Economist A sharp… Read More

The bull market, which showed no signs of slowing at the beginning of the year is stopped in its tracks due to the coronavirus. The whirlwind of market volatility persists, with the stock market posting dramatic single-day moves that are… Read More

Stocks closed higher yesterday as the market tries to put in a bottom. The Dow is now up 6.18% off its lows, with the S&P up 5.65%, and the Nasdaq up 6.94% off its lows and today seems like a… Read More

We have been closely tracking the data associated with the COVID-19 coronavirus and the impact it has had on the global economy and markets. At BWFA, the health and well-being of our employees is a top priority. We have already… Read More

BWFA continues to monitor the changing global financial market conditions. Since our last update there have been some dramatic steps taken by the United States government both through fiscal and monetary policy changes in an effort to combat the effects… Read More

This week marked the end of the longest bull market on record for the United States. Since October 9, 2007 (the peak preceding the Financial Crisis) to February 19, 2020, US equities (as proxied by the S&P 500 total return… Read More

The Markets (as of market close March 6, 2020)   There have been mounting concerns about the spread of the coronavirus and the potential impact on the market (and your health). This concern has expressed itself in the global financial… Read More

The Markets (as of market close February 28, 2020)   Panicked investors continued a major sell-off last week, pushing stocks to double-digit losses. Fears of a major global economic impact increased as the coronavirus continued to spread across multiple countries…. Read More

The Markets (as of market close February 21, 2020)   The run of positive weekly market gains ended last week as each of the benchmark indexes lost value. The spread of the coronavirus from China to other countries has investors worried… Read More

The Markets (as of market close February 14, 2020)   Despite the ongoing battle against the coronavirus, stocks reached record highs last week. Solid economic data, strong retail sales, and favorable corporate earnings reports helped quell investors’ fears that the… Read More

The Markets (as of market close February 7, 2020)   Stocks rebounded and long-term bond yields rose last week amid reports of China’s plans to cut tariffs on some American imports. The S&P 500, Dow, and Nasdaq reached all-time highs… Read More

The Markets (as of market close January 31, 2020)   Investors continue to be rattled by the growing concern over the spread of the coronavirus, pulling money from stocks for the second week in a row. Each of the benchmark… Read More

The Markets (as of market close January 24, 2020)   Last week proved to be a tough one for the market as the benchmark indexes lost value. Concern over the possible spread of the coronavirus from China apparently provided the… Read More

The Markets (as of market close January 17, 2020)   Each of the benchmark indexes enjoyed strong gains last week, led by the Russell 2000, which climbed 2.53% to push its year-to-date gains to nearly 2.0%. The Dow has posted… Read More