The NASDAQ Composite and Dow rose for the eighth consecutive week, with the Dow marking its longest winning streak since January 2004. Energy and consumer discretionary stocks led the gains in the S&P 500, while health care companies were the laggards this week.
What follows is a summary of this week's statistics on the markets.
Highest Close in 2010
- On Friday, the Dow closed up for the 5th consecutive day at a 19-month high of 11204.28, its highest closing level since 9/19/08 when it settled at 11,388.44
- On Friday, the S&P closed at a 19-month high of 1217.28, its highest closing level since 9/19/08 when it settled at 1255.08
- On Friday, the NASDAQ closed up for the 4th consecutive day at a 23-month high of 2530.15, its highest closing level since 6/5/08 when it settled at 2,549.94.
Eight Weeks of Consecutive Gains
- The last time that the Dow finished in positive territory for 8-weeks straight was on 1/16/2004 when the Dow advanced 10.09% in that rally
- The Dow is up 879.02 points or 8.51% in the last 8 weeks
- The last time that the NASDAQ finished in positive territory for 8-weeks straight was on 5/8/2009 when the NASDAQ advanced 21.48% in that rally
- The NASDAQ is up 291.9 points or 13% in the last 8 weeks
Equity Metrics This Week
- 24 of the 30 Dow components finished up for the week, while 6 companies closed in negative territory
- 411 of the S&P 500 components (~82%) finished up for the week, 88 declined, and 1 was unchanged, Walgreens
- 72 of the NASDAQ 100 components rose, and 28 declined
Sector Impact: Nine out of ten sectors closed the week in positive territory, led to the upside by energy and consumer discretionary stocks.
- Nabors Industries was the gainer in the energy sector, up 16% for the week
- Consumer discretionary stocks were helped by Lennar, up 20% this week
- Baxter International was down the most among the health care sector components, posting a loss of 17% for the week
- Year-to-date, eight out of ten sectors are trading in positive territory, led to the upside by consumer discretionary stocks with a gain of 20%, and to the downside by the telecom sector, with a loss of 6%
More Weekly Stats Here
Commodity Impact:Crude oil for June delivery rose for the third consecutive week, settling at $85.12 per barrel on Friday, up $0.45 this week. Crude is currently down 41.41% from its Nymex record close of $145.29 reached on July 3, 2008.
- Cocoa and palladium futures were among the best performing commodities this week, rising 7% and 6%, respectively; pork bellies were down the most, with a loss of 2%
Currencies Impact: The euro recovered from a one-year low versus the greenback on Friday, following news that Greece asked to activate an European Union/International Monetary Fund aid mechanism to begin the first financial aid rescue for the debt-stricken nation.
Global Index Performance: