Weekly Market Performance – April 24, 2020: Stocks Slip Amid Oil Price Volatility

Market Blog

Index Weekly Performance:
S&P 500: -1.32%
Dow Jones Industrial Average: -1.93%
Nasdaq Composite: -0.18%


US equities moved lower on the week as volatility in the oil patch dominated headlines. Despite collapsing oil prices, the energy sector was the lone sector positive, underscoring how much pessimism was priced into a group already down more than 40% this year. Continue reading

Market Update: Fri, Apr 24, 2020 | LPL Financial Research


Stocks opened higher. The S&P 500 opened higher this morning as markets remain fixed on the COVID-19 headlines, oil prices, and earnings season. President Trump will sign the $484 billion COVID-19 relief bill into law today. Oil prices are higher but remain below $20 per barrel, based on June settlement of the futures contract. Continue reading

How Far Do Earnings Typically Fall in Recessions?

Market Blog

With 20% of S&P 500 Index companies having reported first quarter results so far, earnings season has been a mixed bag. In our April 13  earnings preview, we noted that S&P 500 Index earnings for the quarter were expected to decline 10% year over year, based on FactSet’s consensus estimates from analysts. That number is minus 15% now, largely due to weaker-than-expected results for the financials sector so far. Continue reading

When Will The Recession Officially Start?

Economic Blog

With 22 million jobs lost in the past four weeks, a record drop in retail sales, and huge drops in industrial production and housing starts, it is safe to say we are likely in a recession. Even the Federal Reserve (Fed) in the recent Beige Book said that “economic activity contracted sharply and abruptly.” We highly doubt the Fed would say that if they didn’t believe the economy was in a recession. Continue reading

Market Update: Wed, Apr 22, 2020 | LPL Financial Research


Stocks rebound from Tuesday’s sell-off. Global markets are bouncing, as crude oil has somewhat stabilized after the historic sell-off. Caution over restarting the country continues to dominate conversation, with several southern states set to reopen businesses. Senate passage of the coronavirus relief package may be helping investor sentiment this morning. Continue reading

Negative Oil Futures Price Creates Confusion

Market Blog

Headlines had oil selling at -$37.63 per barrel at close on Monday, April 20. The negative sign in front? Sellers had to pay buyers $37.63 to take the oil off their hands. Except this wasn’t the price of oil. It was the price of a useful financial instrument, called a futures contract, in this case a contract for delivery of oil in May at a particular price. The nearest futures contract in date is often used as a proxy for the price of oil, since it trades regularly and usually tracks the price of oil well. Continue reading

Why The Recent Strength Has Bulls Smiling

Market Blog

The huge equity rally continued last week, with the S&P 500 Index up another 3%, on the heels of adding more than 15% in the previous week. The gain during the past two weeks of 15.5% was the greatest since October 1974. Taking it a step further, the 15 trading days ending April 14 saw the S&P 500 up more than 27%, one of the greatest rallies ever. Continue reading