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Slow Market Week, Dominated by U.S. Politics

Oct 18, 2020 | Industry News

Market Says “It’s August” In Slow Week Dominated By U.S. Politics

It was another slow week for markets as out-of-office replies pile up and volume plunges. Equities put in another positive week with international developed markets outperforming strongly (MXEA +2.4%) while emerging markets lagged (MXEF +0.4%). Domestic equities landed in between the two. The S&P 500 notched a 0.6% (SPX) gain on the week to close less than 1% from its all-time high.

Tech-heavy NASDAQ up almost 24% this year

It was another week of somewhat pro-cyclical price action, with value outperforming growth and large-cap tech lagging. We think getting too caught up in these shorter term trends is not terribly informative, especially when volumes and market interest are as light as they are right now.  Zooming out, growth is up ~300 bps on value this quarter and the tech-heavy NASDAQ is up almost 24% this year!

Horizon Investments, LLC is a separate entity from Valmark Securities Inc. and Colton Groome & Company. Fee-based Financial Planning and Asset Management Services offered through Colton Groome Financial Advisors, LLC, an SEC Registered Investment Advisor. Securities offered through ValMark Securities, Inc. Member FINRASIPC, 130 Springside Drive, Akron, Ohio 44333-2431, 1-800-765-5201. Colton Groome & Company, and Colton Groome Financial Advisors, LLC are separate entities from Valmark Securities, Inc.

Article Written by Horizon Investments, LLC

Week of August 17, 2020 | Market Commentary

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