What happened on the stock market last week and what to expect this week
- Posted on July 27, 2020
- Stock Market
- By admin
Last week was a bad week for investors as the coronavirus pandemic effect continued to affect the economy around the world. As a result, stock prices tanked a bit. Here is what happened on the stock market last week and what's expected to happen during the trading hours today.
Last week's market recap.
- 2nd stimulus news
- Fear of another shutdown as COVID -19 cases continues to rise
- Technology stocks like Amazon, Microsoft, Tesla, Facebook and more were hit hard last week
- The Dow dropped 350 on Friday as tech slides. Also, the S$P 500 snapped a 4- day win streak
- The Labor Department said initial jobless claims came in at 1.416 million for the week ending July 18, the 18th straight week in which initial claims totaled more than 1 million.
- Economists polled by Dow Jones expected a print of 1.3 million.
- Thursday’s report also snapped a 15-week streak of declining initial claims.
Dow Jones, S%P 500, and the Nasdaq: See the chart below to see how they performed for the week.
| INDEX | CLOSE | WEEK | YTD |
|---|---|---|---|
| Dow Jones Industrial Average | 26,469 | -0.8% | -7.3% |
| S&P 500 Index | 3,216 | -0.3% | -0.5% |
| NASDAQ | 10,363 | -1.3% | 15.5% |
| MSCI EAFE* | 1,875 | 1.2% | -7.9% |
| 10-yr Treasury Yield | 0.58% | 0.0% | -1.4% |
| Oil ($/bbl) | $41.21 | 1.1% | -32.5% |
Bonds | $119.35 | 0.4% | 7.4% |
Source: Morningstar, 7/24/2020. *4 day performance ending on Thursday. Bonds represented by the iShares Core U.S. Aggregate Bond ETF. Past performance does not guarantee future results. | |||
This is a brief update on what happened on the stock market last week. This week, Investingport expects a bit of a reverse. However, the coronavirus pandemic still lingers over the market and it may affect the upward movement stock prices all around.
For this week, here is what you need to know about the stock market.
- Earning report continues
- Weekly Employment Report
- Continuing effect of the pandemic on your money and finances.
- Stock may seek rebound from last week's losses
- Dow, S&P 500 coming off a
- Stock remains on pace to end July with a gain.
- Gold hitting a record high.
- Future points higher on expected earnings
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