MARKET STATISTICS
Weekly and Year-To-Date Performance
INDEX 12/31/2016 04/13/2017 04/21/2017 % Change Week % Change YTD
 Dow Jones Industrial Average  19,762.60 20,453.25 20,547.76  0.46% 3.97%
 S&P 500  2,238.84  2,328.95  2,348.70  0.85% 4.91%
 Nasdaq Composite  5,382.70  5,805.15  5,912.40  1.85% 9.84%
 Russell Mid-Cap Index  1,783.06  1,836.78  1,866.27  1.61% 4.67%
 Russell Small-Cap Index  1,356.36  1,345.24  1,381.71  2.71%  1.87%

 

 

April 21st, 2017

Dear Friends,

The equity markets finished the week to the upside as corporate earnings results have been encouraging.  For the week the Dow Jones Industrials, S&P 500 and the Nasdaq added 0.46%, 0.85% and 1.85% respectively.  The Russell Mid-Cap, Small-Cap and MSCI EAFE indexes rose 1.61%, 2.7% and 0.63% respectively.  

The markets opened the week with a strong move higher in light trading Monday.  The technology and financial sectors reversed course recovering from losses over the past week to close up 0.92% and 1.5%.  Shares of Apple, Facebook and Alphabet added 0.55%, 1.46% and 1.65% on the tech side, while Bank of America, JPMorgan and Wells Fargo led the banks with gains of 2.1%, 1.73% and 2.67%.  The Dow finished up 184 points or 0.9%, at 20,637.  The S&P and the Nasdaq were off 0.86% and 0.89%.

Stocks closed lower on Tuesday on weakness in healthcare and financials.  The healthcare sector was off 1% after shares of Cardinal Health fell over 11% following their negative earnings guidance.  Shares of Johnson & Johnson fell 3.1% on missed revenue targets.  Financials finished down 0.8% after Goldman Sachs missed their earnings targets and shares of the company fell 4.7%.  The Dow finished down 114 points or 0.55%, at 20,523.  The S&P and the Nasdaq were off 0.29% and 0.12%.

The markets finished mixed but mostly lower Wednesday following another round of earnings results.  Shares of IBM fell nearly 5% after the company said revenues for the quarter came up short of estimates.  The financial sector closed down 0.18% as shares of Goldman Sachs, JPMorgan and Citigroup fell 0.7%, 0.82% and 1.18%.  On the flip side shares of Morgan Stanley rose 2% after reporting better-than-expected results.  The energy sector finished down 1.4% as crude prices closed 3.5% at $50.58 per barrel.  Shares of Exxon, Chevron and ConocoPhillips fell 0.69%, 1.37% and 1.42%.  The Dow closed down 119 points or 0.58%, at 20,404.  The S&P was off 0.17% and the Nasdaq added 0.23%.  The 10-year Treasury note rose four basis points to close yielding 2.216%.

Stocks made a strong move higher Thursday powered by encouraging earnings results.  The financial sector closed up 1.2% as shares of Bank of America, Wells Fargo and Goldman Sachs rose 1.45%, 2.59% and 1.85%.  The technology sector rose nearly 1% after shares of Oracle, Facebook and Alphabet gained 0.77%, 1.08% and 0.41%.  Crude prices closed down 0.36% on rising inventory levels.  The energy sector closed up 0.4% as shares of Exxon and Chevron rose 0.65% and 0.62%.  The Dow closed up 174 points or 0.85%, at 20,579.  The S&P and the Nasdaq added 0.76% and 0.92%.  The 10-year Treasury note was up one basis point to close yielding 2.23%.

The markets finished with modest losses Friday ahead of the election in France this weekend.  The energy sector closed down 0.48% as crude prices closed down 2.25% at $49.57 per barrel.  Shares of Exxon and ConocoPhillips fell 0.4% and 0.41%.  Financials finished mostly lower with the sector down 0.67% as shares of Bank of America, Citigroup and JPMorgan fell 1.56%, 1.18% and 1.2%.  With nearly a 20% of the S&P 500 earnings results in to date nearly 75% have exceeded expectations, slightly higher than the 71% average over the past year.  The Dow finished down 31 points or 0.15%, at 20,548.  The S&P and the Nasdaq were off 0.3% and 0.06%.  The 10-year Treasury note was flat yielding 2.23%. 

-Sonata