WizzWatch Market Newsletter

 After so much uncertainty in the financial markets in the past few weeks as to who would be the president of the united states, we finally got an answer as the general market continued to advance. 

After all the hooting, hollering, politricks, and games the market continued to pick up where it left off, full steam ahead. Despite all the emotions, opinions and feelings, the market continued to do to what it does. 

No matter who the president is, life still remains, as life goes on generation after generation. No matter who lives in the white house, we all as a people would still have to get out and work hard day to day in order to reap the benefits that life has to offer, virus or no virus we all have to continue.

As we turn the page on yet another week in the equity markets the  Dow Jones Industrial Average along with the S&P 500 ended the week advancing as the Nasdaq composite index declined slightly.

The Nasdaq Composite Index began the week trading at 12,046.66 but declined to a price low at 11,424.61 before ending the week trading below it’s opening price at 11,829.29. The index has been moving higher to the upside for 5 of the past 8 weeks and is currently 53.82 points above its prior monthly closing price high at 11,775.46.

The top percentage gainers in the Nasdaq 100 this week were (ULTA) Ulta Beaty +22.01$, (EXPE) Expedia +19.54%, (RSOT) Ross Stores +15.89%, (MAR) Marriot International +15.51%, and (WYNN) Wynn Resorts Ltd. +15.14%.

The Nasdaq ended the week trading at 11,829.29 sown 65.94 points or -0.55% on heavier than average downside trading volume of 21.82 billion. The average weekly trading volume for the index is 17.34 billion.

Over at the Dow Jones Industrial Average we saw the index climb to an all time price high for the first tine since December of 2019. If this continues we might as well get the Dow 30,000 hats and t-shirts ready. 

The top percentage gainers in the Dow 30 this week were (AXP) American Express +18.92%, (BA) Boeing +18.62%, (CVX) Chevron Corp, +16.70%, (WGA) Walgreens Boots Alliance +14.47% as well as (JPM) JP Morgan Chases & Co. +10.80%. Out of all 30 major components of the Dow Jones Industrial Average Nike, McDonalds, Home Depot, Microsoft and Salesforce.com declined to end the week trading lower.

The index ended the week trading at 29,479.81 +1,156.41 or +4.08% on heavier than average trading volume of 2.31 billion. The average weekly trading volume is 1.94 billion.

As for the Standard and Poors 500 the index also moved higher as it ended the week trading in all time price high territory for the first time since August of this year as it broke through 3,508.01. 

The top movers in the index were (KIM) Kimco Realty Corp. +38.60%, (FANG) Diamondback Energy +37.40%, (REG) Regency Realty Corp. +34.60%, (VLO) Valero Energy Corp +33.40%, and (FRT) Federal Realty Investment Trust +28.35%.

The S&P 500 ended the week trading at 3,585.15 up 75.15 points or +2.18% on heavier than average trading volume of 15.65 billion. The average weekly trading volume for the index is 12.55 billion.

On the commodities front the price oil moved higher for the second consecutive week as the prices of gold and silver took a dive lower. West Texas Intermediate Crude ended the week trading at $40.13 per barrel up $2.99 or 8.05%.

The price of gold declined to end the week trading at $1,886.20 per ounce down -$65.50 or -3.36% as it continues it move to the downside for 8 of the past 15 weeks. The price of silver also closed to end the week trading lower. The index ended the week trading at  $24.77 per ounce down $0.89 or -3.46%. 

By Marlin Rolle

Please have a look at the general market charts below