The NASDAQ Composite and Dow rose for the seventh consecutive week, while the S&P 500 halted its winning streak, posting a weekly loss of 0.19%. US stocks fell during Friday's trading session, following news that the Securities and Exchange Commission charged Goldman Sachs with fraud related to subprime mortgages.
What follows is a summary of this week's statistics on the markets.
Highest Close in 2010
- On Thursday, the Dow closed at a near 19-month high of 11,144.57, its highest settled level since 9/19/08, and finished up for the 6-consecutive day, its longest winning streak since 3/18/10
- On Thursday, the S&P closed at an 18-month high of 1211.67, its highest settled level since 9/26/08, and finished up for the 6-consecutive day, its longest winning streak since 3/5/10
- On Thursday, the NASDAQ closed at a 23-month high of 2,515.7, its highest settled since 6/5/08, and finished up for the 6-consecutive day, its longest winning streak since 3/11/10
Seven Weeks of Consecutive Gains
- The last time that the NASDAQ finished in positive territory for 7-weeks straight was on 5/8/2009 when the NASDAQ advanced 19.33% in that rally
- The last time that the Dow finished in positive territory for 7-weeks straight was on 5/18/2007 when the Dow advanced 9.73% in that rally
Equity Metrics This Week
- 14 of the 30 Dow components finished up for the week, while 16 companies closed in negative territory
- 244 of the S&P 500 components (~49%) finished up for the week, 254 declined, and 2 were unchanged
- 63 of the NASDAQ 100 components rose, 36 declined, and 1 was unchanged
Sector Impact: Seven out of ten sectors closed the week in negative territory, led to the downside by basic material stocks. Technology companies led the gains, up 1.4% for the week.
- United States Steel was the biggest loser in the materials sector, down 7% for the week
- Information Technology stocks were helped by Teradyne, up 9% this week
- Year-to-date, eight out of ten sectors are trading in positive territory, led to the upside by industrials with a gain of 15.5%, and to the downside by the telecom sector, with a loss of 6%