Updates on how dynamic, risk-managed investment solutions are performing in the current market environment.
As pointed out in last week’s Market Update, Thanksgiving week is normally very bullish for the markets. The shortened holiday week followed history in a big way. Each index was up over 2%, and for the first time, the Dow Jones Industrial Average crossed above 30,000!
The invitation to our holiday party a few years read “Dress: Cocktail.” One of our guests, John Zilli, wondered, “What exactly does that mean?” He Googled it.
Last week, the gold spot price was down 4.45% and the U.S. Dollar Index was down 0.65%.
U.S. equity markets posted gains in all three indexes last week. The NASDAQ Composite gained 2.96%, the S&P 500 gained 2.27%, and the Dow Jones Industrial Average gained 2.21%. Ten of 11 sectors were up last week; Energy, which posted the largest gain, was up by 8.51%.
Last week, positive news about the COVID-19 vaccines provided a temporary boost for the equities market. Gold prices responded by moving down to the 200-day moving average.