The large caps of the Dow and S&P 500 surged last week. The Dow reached 28000 for the first time in its history while the S&P 500 posted solid gains for the sixth consecutive week. Investors continued to be bullish on hopes that a trade deal between the United States and China is on the horizon. The tech stocks of the Nasdaq also climbed last week while the small-cap Russell 2000 and the Global Dow dropped back. Year-to-date, each of the benchmark indexes listed here are well ahead of their 2018 closing values, led by the Nasdaq, which is nearly 30% ahead of last year’s ending mark.
Oil prices rose last week, closing at $57.93 per barrel by late Friday afternoon, up from the prior week’s price of $57.39. The price of gold (COMEX) rebounded last week, closing at $1,468.70 by late Friday afternoon, up from the prior week’s price of $1,459.20. The national average retail regular gasoline price was $2.615 per gallon on November 11, 2019, $0.010 more than the prior week’s price but $0.071 less than a year ago. For More Information click here:Winthrop Partners Weekly Market Update 11-18-19
Thomas Saunders is the Managing Partner of Winthrop Partners. Prior to founding Winthrop Partners, Tom was Senior Vice President at what is now JP Morgan. His career includes senior and executive roles at Brown Brothers Harriman and First Niagara Bank, a top 25 Bank. Click here to contact Thomas Saunders about your investment and planning requirements.