|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%|
|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
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%.