By Steven Doll, Portfolio Strategist
Market volatility diminished this week with little change across the global market. U.S. large-cap stocks rose approximately 0.8%, while U.S. small-cap stocks fell by 1.5%. Overseas, developed market stocks fell approximately 0.6% while emerging market stocks rose by roughly 0.6%.
The total U.S. bond market edged 0.5% higher as interest rates move lower on news that weekly initial unemployment climbed back above the 1 million mark. Currently the 10-year treasury yield sits at 0.64% while the 2-year treasury yield sits at 0.14%.
The rise in initial claims and fall in interest rates also had the price of gold move a modest 0.5% higher to $1,945 an ounce. The price of crude oil was virtually unchanged on the week as $42.25 a barrel as demand continues to falter.
Year-to Date Return (as of 08/21/2020)