Market Review: 9/18/20

For the Week Ending September 18, 2020

By: Steven Doll, Portfolio Strategist

After a volatile week for the stock market, U.S. large cap stocks ended over 1.0% lower, while U.S. small cap stocks actually rose roughly 2.5%. Overseas the stock market faired a bit better with slightly less volatility and developed markets finishing up over 0.5% and emerging markets up nearly 1.5%.

The total U.S. bond market fell nearly 1.0% as interest rates moved higher. Currently the 10-year treasury yield sits at 0.70%, up from 0.67% last week, while the 2-year treasury yield continues to hover around the 0.13% to 0.14% range.

The price of gold rose a modest 0.5% to $1,957 an ounce after receiving a boost from the Fed’s announcement to keep the federal funds rate lower for longer.

The price of crude oil jumped over 5.5% this week after falling nearly 7.0% the week prior on news of oil rig outages from Hurricane Sally and OPEC’s claim to be compliant with production output.

Year-to Date Return (as of 09/18/2020)