Market Review: 10-16-20

By: Steven Doll, Portfolio Strategist

With third quarter earnings season kicking off, the U.S. stock market was little changed this week as previous hopes of fiscal stimulus falter, unemployment claims move higher, and retail sales exceed expectations. More specifically, U.S. large-cap stocks edged 0.4% higher, while U.S. small-cap stocks were virtually unchanged.

Overseas developed markets fell over 1.5% as many European countries experience record number of daily cases, and begin reinforcing lockdowns. Meanwhile emerging markets only dropped around 0.3% as most of Asia continues to maintain control over the virus and begin taking further initiatives in reopening their economies.

With the 10-year treasury yield rising from 0.70% to 0.79% last week on renewed hopes of fiscal stimulus, interest rates pulled back this week with the 10-year treasury yield dropping to 0.74% as deadlock between political parties has investors more hesitant. Consequently, the total U.S. bond market edged roughly 0.2% higher.

The dollar-pegged price of gold rose nearly 1.0% on the week, thanks to an appreciating U.S. dollar. Meanwhile the price of crude oil was little changed at $40.81 a barrel.

Year-to Date Return (as of 10/16/2020)

6 views0 comments

Recent Posts

See All

Is the Stock Market Too Expensive?

By: Andrew J. Willms President and CEO of The Milwaukee Company I recently had the pleasure of speaking to a former college instructor of mine about his investments. I shared my thoughts about the ad

Good Company for Your Investments™

Phone: (262) 238-6980

Fax: (262) 238-6999

414 N Main St, Thiensville, WI 53092, USA

  • YouTube
  • Spotify

©2020 by The Milwaukee Company