Weekly Market Commentary 12/25/2020
-Darren Leavitt, CFA
US equity Markets were mixed in a holiday-shortened week. Corporate news was limited but influenced individual issues while trade was relatively subdued. Investors continued to focus on Washington negotiations for a resolution on another tranche of coronavirus stimulus. The EU and the UK came to a post-Brexit trade agreement even as the UK increased lockdown measures to combat a new strain of Covid19 that appears to be spreading at a much higher rate.
For the week, the S&P 500 lost 0.52%, the Dow shed 0.34%, the NASDAQ increased by 0.31%, and the Russell tacked on 1.72%. The US yield curve was little changed, with the 2-year note yield rising one basis point to close at 0.12% and the 10-year bond yield falling two basis points to close at 0.93%. Gold lost just over $7 to close at $1882.60 an Oz. Oil prices fell $0.74 to close at $48.30 a barrel.
The information in this Market Commentary is for general informational and educational purposes only. Unless otherwise stated, all information and opinion contained in these materials were produced by Foundations Investment Advisers, LLC (“FIA”) and other publicly available sources believed to be accurate and reliable. No representations are made by FIA or its affiliates as to the informational accuracy or completeness. All information or ideas provided should be discussed in detail with an advisor, accountant or legal counsel prior to implementation. No party, including but not limited to, FIA and its affiliates, assumes liability for any loss or damage resulting from errors or omissions or reliance on or use of this material.
The views and opinions expressed are those of the authors do not necessarily reflect the official policy or position of FIA or its affiliates. Information presented is believed to be current, but may change at any time and without notice. It should not be viewed as personalized investment advice. All expressions of opinion reflect the judgment of the authors on the date of publication and may change in response to Market conditions. Due to rapidly changing Market conditions and the complexity of investment decisions, supplemental information and other sources may be required to make informed investment decisions based on your individual investment objectives and suitability specifications. You should consult with a professional advisor before implementing any strategies discussed. Content should not be viewed as an offer to buy or sell any of the securities mentioned or as legal or tax advice. You should always consult an attorney or tax professional regarding your specific legal or tax situation. Investment advisory services are offered through Foundations Investment Advisors, LLC, an SEC registered investment adviser.