ACTIONABLE ADVICE FOR FINANCIAL ADVISORS: Newsletters and Commentaries Focused on Investment Strategy

Follow us on

Exclusive Sponsorships

Most Popular This Month

Most Popular This Year

S&P 500 Snapshot: Down for the Day, But Up for the Week and Month

July 31, 2015

by Doug Short

The S&P 500 ended the day with a modest -0.23% decline, but it gained 1.16% for the week and 1.97% for month. Perhaps the most significant economic news of the week was the rear-view look at the economy via the Advance Estimate of Q2 GDP, which came in close to expectations at 2.3%. Meanwhile, the general mood of the consumer is in a bit of malaise, aka summer doldrums. Both the Consumer Confidence and Consumer Sentiment surveys showed declines from June.

Next week will feature an avalanche of economic data bookended with Monday's release of the June numbers for Personal Income and Outlays, and Friday's release the July employment report. Stay tuned!

The yield on the 10-year note closed the month of July at 2.20%, down 23 bps from its close on the opening day of the month.

Here is a snapshot of past five sessions.

S&P 500

In the next chart, we see that the index will enter August after trading in an extremely narrow range for the past five months.

S&P 500

A Perspective on Drawdowns

Here's a snapshot of selloffs since the 2009 trough.

S&P 500 Drawdowns

For a longer-term perspective, here is a charts base on daily closes since the all-time high prior to the Great Recession.

S&P 500 Snapshot