Markets gained traction this week after several consecutive weeks of decline. Will there be a reversal of trends in Q2?
Monday
S&P 500 0.39% | NASDAQ 0.73%
Markets started off the week on unstable ground, again. Continued pressure on oil prices accelerated losses as the conflict in Iran drags along. It is important to note that commodity fluctuations have been a focus, underscoring the importance of diversification across asset classes.
Tuesday
S&P 500 2.91% | NASDAQ 3.83%
Equites surged in a relief rally hoping to cut into the monthly losses that began in early March. Consumer Confidence was partially to thank but news of the war potentially ending soon set up a buying spree. The 10-year treasury fell slightly to 4.35% (was below 4% in late February).
Wednesday
S&P 500 0.72% | NASDAQ 1.16%
Equities carried their momentum as there was a shift out of energy into technology and industrials. Broad indexes gained traction to kick off April as retail sales and manufacturing strengthened. The President indicated that the conflict in Iran could end soon but these developments are not predictive of market conditions.
Thursday
S&P 500 0.11% | NASDAQ 0.18%
Indexes were flat to close out this week’s trading ahead of Friday’s job report. The S&P500 and Nasdaq posted positive weekly gains for the first time in over 5 weeks. Yields fell as oil prices went higher.
Friday
S&P 500 0.00% | NASDAQ 0.00%
Markets Closed – Good Friday
Conclusion
S&P 500 3.36% | NASDAQ 4.44%
This week was a short holiday trading week but was a reversal of trends these past 5 weeks. The recent slide in stocks and bonds has put markets at a crossroads but this past week helped ease jitters. Positive economic data in the way of jobs and consumer confidence shored up confidence, at least for now. Even with continued unease abroad, there were indications there may be an end in sight. The S&P500 and Nasdaq responded strongly after falling over 8% from the start of the month. It recovered almost 3% and 4%, respectively, on the last day alone. There will continue to be a balance of risks as the next month does not guarantee similar trends. As the quarter came to an end, there may be opportunities for growth going into the 2nd quarter.
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