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Dow and S&P Best 1st Trading Week of September since 1982

For the week ending Friday, September 3, 2010, U.S. stocks rose 2.75% or more for the week, recouping almost more than half of their month-end losses after posting their worst August decline in nine years. The markets rallied on the wake of a more upbeat employment situation, strong August retail sales, and better-than-expected manufacturing data from both the U.S. and China as all 10 main sectors of the S&P rose for the week, with four up by more than 4% led by Financials.

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

Dow Jones Industrial Average

  • The Dow ended up 297.28 or 2.93% for the week, its first weekly gain since 8/6 and its best 1st trading week of September since 1982 when it gained 4.7% that week.
  • All of the Dow 30 components advanced for the week.
  • On a weekly basis, the Dow has finished in positive territory 51% of the time this year.
  • On Friday, the Dow rallied 438.2 or 4.38% for the fourth consecutive day, its largest 4-day % streak since 7/9/10 when it gained 511.5 or 5.28% for 4-straight days.
  • On Wednesday, the Dow closed up 254.75 or 2.5% at 10,269.5, marking its biggest gain on the 1st trading day in September since 1998 when it settled up 288.36 points or 3.82% at 7827.42.
  • Since 1896, the Dow has closed up 200 points or more on the first trading day in September only twice (ie 1998 & Wednesday's gain)
  • Looking forward: The Dow has an average gain of 0.12% the day after Labor Day and an avg. loss of -0.14% one week later.
  • The Dow is off by -757.1 or -6.76% from its 2010 closing high of 11,205.03 reached on 4/26.

S&P 500

  • The S&P 500 ended up 39.92 or 3.75% for the week, its first weekly gain since 8/6 and its best 1st trading week of September since 1982 when it gained 4.76% that week.
  • 476 (~95%) of the S&P 500 components rose for the week.
  • On a weekly basis, the S&P has finished in positive territory 49% of the time this year.
  • On Friday, the S&P rallied 55.59 or 5.3% for the fourth consecutive day, its largest 4-day % streak since 7/16/09 when it gained 61.61 or 7.01% for 4-straight days.
  • On Wednesday, the S&P closed up 30.96 or 2.95% at 1080.29, marking its biggest gain on the 1st trading day in September since 1998 when it settled up 36.71 points or 3.83% at 994.24.
  • Since 1928, the S&P has closed up 25 points or more on the first trading day in September only three times (ie 1997, 1998 & Wednesday's gain)
  • Looking forward: The S&P has an average loss of -0.01% the day after Labor Day and an avg. loss of -0.33% one week later.
  • The S&P is off by -112.77 or -9.26% from its 2010 closing high of 1217.28 reached on 4/23.

NASDAQ Composite

  • The NASDAQ Composite ended up 80.12 or 3.72% for the week, its largest weekly % gain since 7/23 and its best 1st trading week of September since 2000 when it gained 4.74% that week.
  • 97 of the NASDAQ 100 components increased for the week.
  • On a weekly basis, the NASDAQ has finished in positive territory 54% of the time this year.
  • On Friday, the NASDAQ rallied 119.72 or 5.66% for the third consecutive day, its largest 3-day % streak since 7/26/10 when it gained 159.4 or 7.04% for 3-straight days.
  • On Wednesday, the NASDAQ closed up 62.81 or 2.97% at 2176.84, marking its biggest gain on the 1st trading day in September since 1998 when it settled up 75.8 points or 5.06% at 1575.
  • Since 1971, the NASDAQ has closed up 60 points or more on the first trading day in September only twice (ie 1998 & Wednesday's gain)
  • Looking forward: The NASDAQ has an average loss of -0.12% the day after Labor Day and an avg. gain of 0.06% one week later.
  • The NASDAQ is off by -296.4 or -11.7% from its 2010 closing high of 2,530.15 reached on 4/23.

S&P Sectors:

  • 10 out of 10 S&P sectors were positive for the week led by Financials up 5.67% for the week.
  • Hartford Financial was the biggest percent gainer in the financial sector, up almost 11% for the week.
  • Year-to-date, 6 out of 10 S&P sectors are positive with the Consumer Discretionary Sector up the most, up 7.9%.
  • The most negative sector YTD is the Health Care down about 6.9% YTD.

More Weekly Stats Here

Commodity Impact:Precious Metal futures were amongst the biggest winners for the week with COMEX Silver for December delivery closing at a 2-year high of $19.95/ounce as it rallied for the 2nd consecutive week and posted a weekly gain of ~4.6%.

  • COMEX Gold for December delivery shed $2.30/ounce or 0.2% on Friday to close at $1251.1/troy oz. but this precious metal managed to finish up for the 5th consecutive week and recorded a weekly gain of 1.1%.
  • COMEX Copper for December delivery finished at a new 4-month high of $3.5/lbs on Friday, marking its highest close since 4/26 as it gained more than 3% for the week, its third consecutive weekly gain for copper.
  • Crude for October Delivery lost 0.76% for the week as it settled at $74.6/barrel on Friday and has finished in negative territory 3 out of the last 4 weeks.

Currencies Impact: The US dollar Index down ~1% for the week after the dollar declined almost 1% against the swiss franc and the yen.

  • The Swiss Franc approached parity with the dollar for the first time in 9 months and hit a record high against the euro as the euro fell to an all-time low of 1.285 francs on Tuesday, but only fell 0.04% for the week against the franc.

Global Index Performance:



Note: Data based on preliminary numbers. May adjust slightly due to settling at close.

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