Stock Market Summary
Monday, November 21, 2016
- The Dow Jones Industrial Average, Nasdaq Composite and Russell 2000 hit all-time highs last week as stocks added to the previous week’s gains.
- Once again the Russell 2000 led the major indices for the week with a gain of nearly 3%. The index has now moved higher for eleven consecutive trading days.
- The Nasdaq Composite gained a bit under 2%, while the S&P 500 gained just under 1% for the week. The Dow Jones Industrial Average rose just fractionally.
- Weakness in consumer durables, healthcare and staples sectors, along with some earnings reports curtailed any advance the Dow Jones Industrial Average might have had.
- Energy and financial service stocks led the general market last week with some strong contributions from retail and technology.
- Healthcare stocks, especially pharmaceutical stocks, were weak as were fixed income related stocks.
- This week is a holiday shortened trading week with the market being closed on Thursday for Thanksgiving and open for a half day on Friday.
- The strength of the market continues. The short, intermediate and long term trends are higher.
Sources: bankrate.com, bloomberg.com, briefing.com, Dow Jones News, Financial Times, finviz.com, Investor's Business Daily, marketwatch.com, seekingalpha.com, Thomson Reuters/First Call, U.S. Dept of Treasury, yahoo.com and individual company web sites and press releases.
Leonetti & Associates, LLC views or opinions are as of a certain date and subject to change without notice. The material contained herein is for informational purposes only and obtained from sources we consider reliable. We make no guarantee as to its accuracy or completeness. References to specific securities and industries/sectors should not be considered recommendations to buy or sell any security or advisory service. Past performance is not a guarantee of future results.