The Week on Wall Street
Traders paid close attention to coronavirus developments and earnings last week, while wondering how the former might eventually impact the latter. Concern over updated infection numbers moderated risk appetite.
Author: investmentguys
Weekly Gains for Big Benchmarks
The Week on Wall Street
Daily headlines about the coronavirus had little impact on stock market averages last week. Earnings and mergers had more influence.
Stocks Bounce Back
The Week on Wall Street
Stocks advanced four days out of five during the past market week, erasing the losses of the week before.
Equities Slip on Virus Concerns
The Week on Wall Street
Stock benchmarks declined for a second straight week as coronavirus news tempered risk appetite.
Stocks End the Week Lower
The Week on Wall Street
Stock prices fell last week as investors considered the potential health and economic risks of the flu-like coronavirus.
Fresh Record Highs
The Week on Wall Street
Traders were in an upbeat mood last week, reacting to news out of Washington: the signing of the phase-one trade deal between the U.S. and China as well as the Senate passage of the U.S.-Mexico-Canada Agreement (USMCA). In addition, a new earnings season started. Risk appetite grew and spurred all three of the major Wall Street averages to record settlements on Friday.[1]
Further Gains for Stocks
The Week on Wall Street
The market had a choppy five days, with traders reacting to geopolitical developments and weaker-than-expected jobs data. Even so, the three major U.S. equity indices posted weekly gains and continued their strong start to the new year. During Friday’s trading session, the Dow Jones Industrial Average topped 29,000 for the first time.
A 2020 Look at Your IRA
While most of us were enjoying the holidays, our friends in Washington were busy tinkering with traditional Individual Retirement Accounts (IRAs).
Rules Tighten on Stretch IRAs
Washington was busy this holiday season. As many of us were looking forward to some well-earned time off, new legislation was passed, and it affects some of the old rules for traditional Individual Retirement Accounts. These changes went into effect on January 1, 2020.
Concerns About Oil
The Week on Wall Street
Stocks descended from record highs Friday, as traders reacted to a U.S. drone strike that killed Iran’s top military officer. Oil prices rose more than 3% following the breaking news.[1]