Market Slightly Up For The Week, Gains Supported By Strength in Large-Cap Tech

Key Takeaways

  • The S&P 500 closed at 4,697.96 which was up from last week’s close of 4,682.86.
  • Big tech stocks such as Apple and Nvidia have been holding the indexes as high levels despite some weakness in more beta-sensitive parts of the market.
  • Earnings have come in very good this season and continue to show underlying strength in the economy. Q3 Net Profit margins were 12.9% vs. 10.5% in Q4 of 2019.
  • The Russell 2000 has shown strength recently and hit an ATH this month. Analysts are anticipating steeper earnings growth from the Russell than from the S&P 500 in coming quarters.

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This was a mixed week in many ways and the tenor from Washington DC ...
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