Craig Johnson’s

Stock Market Summary

Monday, December 4, 2017

  • The major stock market indices recorded all-time highs last week.
  • A definite change in leadership was in play as many of the leaders of 2017 struggled with some pulling back sharply, especially on Wednesday.
  • For the week, the Dow Jones Industrial Average led the charge gaining over 2.80%. The S&P 500 had a good week rising over 1.50%, while the Russell 2000 gained more than 1.60%. The Nasdaq Composite declined 0.60% for the week.
  • Very good strength for stocks in energy, financial, home builders, industrials, retail and some other areas gave the market its lift. Weakness in technology, including disk drive, internet-related, memory and semiconductors, left those groups faring poorly last week.
  • The solid performance last week in some groups that have been weak for most of the year helped broaden the advance, including many stocks that haven’t participated or kept anywhere near the outstanding performance of the indices during 2017.
  • The financial sector led all of the sectors last week gaining over 5%, while the Industrials were up just over 3% . The Consumer Discretionary, Consumer Staples and Energy sectors gained over 2%.
  • The Technology sector was the worst sector last week. The only other sector that was negative for the week was the REITs.
  • The short, intermediate and long term trends are higher 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. 

 

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