This article covers a brief overview of the futures for the week of 7/20, and recaps last week in the market.
Last Week in the Market:
The Dow and S&P closed the market this week with sizable gains, while the NASDAQ fell.
Although Apple performed well up until midweek, the gains retreating, finishing off Apple's week in the red, with the price around 385.
Tech stocks took a hit- FAANG stocks declined, after Netflix's quarterly earning were less than expected. This led to the first NASDAQ loss in three weeks.
The Dow opened on Monday at approximately 26,303, closing at around 26,671, gaining more than 350 points, equivalent to 1.35- the S&P also rose about 2.3%, the third straight weekly advances for these indexes.
Despite a rise in Coronavirus cases, the market has kept pushing forward, as investors seemingly aren't rattled.
Not surprisingly, if there's one section that has surged during the pandemic, it is the E-Commerce section. Big picture (past 3 months), Amazon has gone up more than 600 points.
After tensions and rumors with a ex-employee, Amazon posted an abysmal week, its worst since February.
Despite this, Amazon has seen strong profits and gains, and it's likely this can continue to drive the rally.
After the Dow and S&P posted sizable gains, the futures backed off, with the Dow, NASDAQ, and S&P all down about 0.65%, with Wall Street failing to continue the gains from last week.
Washington Stimulus packages, as well as Coronavirus can turn investors in a second, as can any current event.
Globally, the Shanghai Index is up more than 3 percent, while EU Markets are down. The Dax and FTSE are down 0.66% and 0.88%% respectively.
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