SCHWAB MARKET UPDATE

PGWM, LLC

SCHWAB MARKET UPDATE

Markets Finish Day Lower, Wiping Out Early Week Gains

U.S. stocks closed the day lower after a bright start to the week that saw the S&P 500 get back to positive territory for the year gave way to increased uneasiness surrounding an escalation in tensions between the U.S. and China. The ordered closure of a U.S. consulate in China overshadowed upbeat global and domestic manufacturing and services data and a 13-year high in new home sales. Earnings season continued in earnest, headlined by Dow members Intel, Verizon Communications and American Express. Treasury yields were little changed and the U.S. dollar lost ground, while crude oil prices were higher and gold continued its bullish run. European equities finished solidly lower on the negative

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Charles Schwab and Co., Inc.

Jul 17
9 min

Markets Finish Week Mixed, Miss Posting a Three-peat

U.S. equities finished out a bumpy week mixed, dashing hopes of a three-peat for all the major indexes to post weekly gains, as a recent pullback in tech shares pushed the Nasdaq into negative territory for the week. The persistent rise in new COVID-19 cases appeared to be the main culprit in the lack of conviction, despite a recent string of upbeat global economic data and further progress out of the Health Care sector on finding an answer to the pandemic. In economic news, June housing construction activity improved in June but at a slightly slower pace than expected, and July consumer sentiment unexpectedly deteriorated. On the earnings front, Netflix posted stronger-than-expected subscri

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Charles Schwab and Co., Inc.

Jul 11
9 min

Stocks Put Positive Finishing Touches to Choppy Week

U.S. stocks finished higher with the technology sector extending a recent surge that returned the Nasdaq back to record highs, while equities that have been punished by uneasiness regarding the persistent rise in new COVID-19 cases in the U.S. rebounded. Gilead Sciences contributed to the rebound of economic "reopening" stocks after it announced more positive results from a study of its COVID-19 treatment candidate known as Remdesivir. WD-40 missed quarterly expectations, Ford Motor Company warned of supply shortages out of Mexico, United Airlines reportedly reached a tentative deal on furloughs and retirement packages, and Carnival Corporation provided a relatively upbeat business update. T

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Charles Schwab and Co., Inc.

Jul 6
7 min

Rally Continuing as Stocks Return from Holiday Weekend

U.S. stocks are extending last week's solid advance coming off a long holiday weekend, with the global markets appearing to be buoyed by recent economic data suggesting a recovery in activity, and supported by the foundation of the massive monetary and fiscal policy relief measures. Equity markets in China and Hong Kong surged to lay the groundwork, while M&A is in focus, with Uber Technologies agreeing to acquire Postmates for nearly $2.7 billion and Berkshire Hathaway purchasing substantially all of Dominion Energy's gas transmission and storage segment assets for roughly $4.0 billion, excluding debt. Treasury yields are rising as bond prices slide, and the U.S. dollar is seeing pressure,

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PGWM, LLC