Stock Market Summary
Monday, June 8, 2015
- The stock market finished the week mixed. The Dow Jones Industrial Average and the S&P 500 finished lower, which was representative of the overall large capitalization stock trading for the week.
- The Nasdaq Composite and the Russell 2000 enjoyed gains for the week. The Russell 2000 gained a bit more than 1% and is now up a little over 4% since the recent May 8 low. Since the October 17 low, the Russell 2000 is now 21% above that low. This solid strength in the smaller capitalization area does not appear to be waning. In fact, it might be growing in strength.
- Strength in the financial sector that has favored regional and smaller banks, insurance, finance and other small financial groups have given the Russell 2000 the lift that it has been enjoying. The financial sector is the largest group in the index followed by healthcare and technology.
- The healthcare and technology sectors remain strong, while the utilities and energy sectors are weak.
- The S&P 500 has been trading in a tight trading range since early February. Currently, that range is 2070 – 2130. The index closed just below 2093 on Friday.
- The stock market has remained resilient with group rotation keeping the market strong. The intermediate market bias remains positive for the stock market.
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.