Coming off the worst week ever where volatility continues to rule, enhanced by options expiration Friday, the major indexes are all up about 4% or greater for the week. The Russell 2000 lags, up under 1% for the week.
On Friday, all the major indexes closed for the day in negative territory.
-The Dow is still down over 37% from its market peak on October 9, 2007 of 14,164.53
-The S&P is still down almost 39% from its peak of 1565.15 on October 9, 2007
-The NASDAQ is still down almost 39% from its peak of 2859.12 hit on October 31, 2007
-The VIX hit a high of 81.17 on Thursday, but ended the week at about 69.
-Johnson & Johnson had the most positive impact on the Dow, up over 12% for the week
*Only 3 Dow components were negative for the week, General Electric trading at 20+ year lows not seen since Spring, 1997; Caterpillar is trading at 4+ year lows not seen since Fall, 2004; and JPMorgan
-Caterpillar had the most negative impact on the Dow down almost 9% for the week
-Exxon had the most positive impact on the S&P 500, up over 9% for the week
-General Electric had the most negative impact on the S&P, down almost 9% for the week
*The second biggest S&P % loser for the week, Dillards, is down over 30% for the week and trading at 23+ year lows not seen since January, 1985
-Microsoft had the most positive impact on the NASDAQ 100, up over 11% for the week
-Amazon.com (AMZN) had the most negative impact on the NASDAQ 100, down almost 10% for the week
*Lamar Advertising was the biggest % loser in the NASDAQ 100 for the week, down almost 20% for the week, Lamar is trading at 20+ year lows not seen since September, 1997.
Nine out of ten sectors were positive for the week led by Health Care up almost 9%.
-Health Care was buoyed by UnitedHealth up almost 41% for the week
The Industrials sector finished the week down 1.51%, impacted by Ryder System down almost 11%
Oil settled at $71.85 per barrel Friday, after settling below $70 on Thursday, hitting a 14- month low. Oil is now down over 25% year-to-date.
*OPEC called an emergency meeting for October 24th where there is a high probability that oil production will be reduced.
Currencies were volatile in response to the equity markets, but experts feel that overall, the US dollar and the yen will continue to outperform, especially in relation to the euro.
-The dollar index is up almost 8% YTD.