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Major US Averages Gain Over 2% for the Week

US major indexes reversed last Thursday's steep drops on Monday on a near $1 trillion European Union relief package and on news that US regulators are looking at circuit breakers to prevent a re-run of last week's "flash" market meltdown as stocks managed to hold onto gains of 2% and greater for the week.

Fears of inflation and slow growth in the wake of the euro-zone bailout, along with a sizable US April budget deficit led COMEX Gold futures to a non-inflation adjusted record high of $1249.7/Troy oz., as the euro traded at its worst level since October 2008 at a low of $1.2362 against the dollar.

What follows is a summary of this week's statistics on the markets.

Weekly Gains:

  • The Dow S&P and NASDAQ Composite logged weekly gains of +2.31%, +2.23, and +3.58%, marking their best weekly percent gain since March 5, 2010 when each rose 2.33%, 3.1%, and 3.94% respectively
  • The Dow has posted weekly gains 58% of the time this year, and closed in negative territory 9 times
  • The S&P has posted weekly gains 54% of the time this year, and closed in negative territory 9 times
  • The NASDAQ Composite has posted weekly gains 58% of the time this year, and closed in negative territory 8 times

Since Thursday’s Flash Crash:

  • The Dow has recovered 99.84 points or 0.95% from last Thursday's close of 10520.32, while the Dow has gained 750.54 points or 7.6% from Thursday's intraday low of 9869.62.
  • The S&P has recovered 7.53 points or 0.67% from last Thursday's close of 1128.15 & the S&P has gained 69.89 points or 6.56% from Thursday's intraday low of 1065.79.
  • The NASDAQ Composite has recovered 27.21 points or 1.17% from last Thursday's close of 2319.63 & the NASDAQ has gained 161.1 points or 7.37% from Thursday's intraday low of 2185.75.

Monday's Rebound & Biggest 1-day point moves:

  • The Dow closed up 404.71 points or 3.89% at 10785.14 on Monday-its 14th largest 1-day point gain in its history, and its biggest 1-day point gain since March 23, 2009 when it rose 497.48 points or 6.83%
  • The S&P closed up 48.85 points or 4.4% at 1159.73 on Monday-its 13th largest 1-day point gain in its history, and its biggest 1-day point gain since March 23, 2009 when it rose 54.38 points or 7.08%
  • The NASDAQ Comp closed up 109.04 points or 4.81% at 2374.67-its 45th largest 1-day point gain in its history, and its biggest 1-day point gain since October 28, 2008 when it rose 143.57 points or 6.83%
  • Since the March 9, 2009 lows, the S&P is up 67.87%, the Dow is up 62.2%, the NASDAQ is up 84.99%, while the Russell 2K is up 102.2%
  • The CBOE Volatility Index (VIX) surged about 17.7% on Friday and settled above 31, but declined 23% for the week



S&P 500

Sector Impact:
Ten out of ten sectors closed the week in positive territory, led to the upside by industrial and technology stocks.

  • Quanta Services was the biggest percent gainer in the industrial sector, up 14% for the week
  • Technology stocks were helped by JDS Uniphase, up 13% this week
  • Year-to-date, six out of ten sectors are trading in negative territory, led to the downside by telecom stocks with a loss of 8%, and to the upside by industrial companies, with a gain of nearly 12%

More Weekly Stats Here

Commodity Impact:Crude oil for June delivery fell for the second consecutive week, settling at $71.61 per barrel on Friday, down $3.50 this week, or 4.66%. Crude oil has declined 16.88% in the past two weeks, and it's trading at its lowest level since December 2009.


Currencies Impact: The US dollar Index finished up over 2% for the fourth consecutive week, after the dollar strengthened against the euro and the yen. The euro took a beating against the dollar on Friday , trading as low as $1.2357, or its lowest level since October 2008. The euro also depreciated largely against the Swiss franc hitting a record low of CHF1.4 on Friday, a decline of about 0.9% for the week.

Commodity Impact:Crude oil for June delivery fell for the second consecutive week, settling at $71.61 per barrel on Friday, down $3.50 this week, or 4.66%. Crude oil has declined 16.88% in the past two weeks, and it's trading at its lowest level since December 2009.


Global Index Performance:

Commodity Impact:Crude oil for June delivery fell for the second consecutive week, settling at $71.61 per barrel on Friday, down $3.50 this week, or 4.66%. Crude oil has declined 16.88% in the past two weeks, and it's trading at its lowest level since December 2009.


Currencies Impact: The US dollar Index finished up over 2% for the fourth consecutive week, after the dollar strengthened against the euro and the yen. The euro took a beating against the dollar on Friday , trading as low as $1.2357, or its lowest level since October 2008. The euro also depreciated largely against the Swiss franc hitting a record low of CHF1.4 on Friday, a decline of about 0.9% for the week.

Symbol
Price
 
Change
%Change
JDSU
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PWR
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AFF
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KO
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MDLZ
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DIS
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DD
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JPM MLP ETN
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CAT
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INTC
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GE
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IBM
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CSCO
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MSFT
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GOOGL
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XOM
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MCD
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