MARKET STATISTICS
Weekly and Year-To-Date Performance
INDEX 12/31/2018 04/12/2019 04/18/2019 % Change Week % Change YTD
 Dow Jones Industrial Average 23,327.46 26,412.30 26,559.54 0.56%  13.86%
 S&P 500 2,506.85 2,907.41  2,905.03 -0.08%  15.88%
 Nasdaq Composite 6,635.28 7,981.10  7,998.06 0.21%  20.54%
 Russell Mid-Cap Index 1,857.30 2,227.01  2,205.77 -0.95%  18.76%
 Russell Small-Cap Index  1,348.56 1,584.43  1,565.59  -1.21%  16.09%

 

April 18th, 2019

Dear Friends –

The equity markets closed out the shortened trading week ahead of the Easter holiday with mixed results. For the week the Dow Jones Industrials and the Nasdaq gained 0.56% and 0.21%, while the S&P 500 fell 0.08%.  The Russell Mid-Cap and Small-Cap indexes fell 0.95% and 1.2%.  The MSCI EAFE index closed up 0.35%.

Stocks opened the week Monday with modest losses following some mixed earnings reports.   Shares of Goldman Sachs fell 3.8% weighing heavily on the Dow after the company announced it earnings.  The numbers were a mixed bag with earnings beating estimates but revenues falling short.  Citigroup followed suit with better-than-expected earnings and light revenues.  Shares of Citigroup closed down just 0.06%.  Consumer staples led on the upside with a gain of 0.69%.  Financials led the declines falling 0.62%.  The Dow closed down 28 points or 0.1%, at 26,385.  The S&P and the Nasdaq were off 0.06% and 0.1%.  The benchmark 10-year Treasury note opened the week unchanged yielding 2.556%.  Crude oil prices ticked higher to close at $63.53 per barrel.

The markets closed higher Tuesday as the earnings results continued to roll in.  Shares of Boeing gained 1.7% to lead the Dow higher following some positive news from the FAA on company’s fix for the 737 Max.  Fellow Dow component Johnson & Johnson reported better-than-expected results on rising revenues from drug sales.  Shares of the company gained 1.1%.  Blackrock and Bank of America also came in with results that beat estimates to round out the day’s earnings news.  Shares of the two companies finished up 3% and 0.13%.  The Dow closed up 68 points to 0.26%, at 26,453.  The S&P and the Nasdaq added 0.05% and 0.3%.  Crude prices closed up 1.5% to settle at $64.34 per barrel.

Stocks finished with little change overall Wednesday as weakness in healthcare offset gains in technology and consumer related areas. The healthcare sector closed down 2.89% as shares of UnitedHealth fell 1.9%.  Biotech was off 3.9% as shares of Abbott and Baxter fell 4.58% and 4.16%.  The technology sector led the S&P with a gain of 0.58% as shares of Apple, Microsoft and Alphabet added 1.95%, 0.83% and 0.75%.  Positive earnings reports from Pepsi and Morgan Stanley highlighted the days earnings.  Shares of the companies finished the day up 2.64% and 3.76%.  In other news a report out of China said the nation’s economy grew at a faster-than-expected pace in the first quarter coming in at 6.4%.  Several analysts raised their full-year projections for the Chinese economy following the news.  The Dow finished down 3 points or 0.01%, at 26,450.  The S&P and the Nasdaq were off 0.23%, and 0.05%.  The benchmark 10-year Treasury note fell about one basis point to close yielding 2.58%.

The markets closed out the holiday-shortened trading week mostly higher Thursday. The Dow and the S&P closed up while the Nasdaq closed nearly unchanged on weakness in technology.  The blue-chip Dow was led by a rebound in shares of UnitedHealth which bounced back from Wednesday’s declines to close up 2.26%.  Travelers followed closely behind with a gain of 2.25% after the company posted better-than-expected earnings results. Industrials and real estate led on the upside with gains of 1.11% and 0.75%, while energy and financials led on the downside falling 0.53% and 0.24%.  The Dow closed up 110 points or 0.42%, at 26,560.  The S&P and the Nasdaq added 0.16% and 0.02%.  The 10-year Treasury note closed down two basis points yielding 2.56%.  Crude oil prices rose 0.4% to settle at $64.01 per barrel.

-Sonata