This week’s Bespoke Report newsletter is now available for members.
The week of July 4th has historically been a good one for the stock market, but this year has been an exception. While the median S&P 500 gain during July 4th week has been a gain of 0.88% and even higher (1.06%) when the S&P 500 was already up over 10% YTD heading into the week, this year’s performance has been considerably less. Heading into Friday, the S&P 500 was down 0.72% on the week, although an early rally on Friday pushed the market to its highest levels of the week and into the black.
With the quiet, holiday-shortened week and the fact that we just published our quarterly Pros and Cons report last week, there isn’t a whole lot to cover, so for this week’s report, we wanted to provide a quick look at market performance this week, and then with earnings season coming up next week provide a preview of analyst sentiment heading into the reporting period and what it may mean for market performance. We’ll then close out with a review of sectors that we normally include with each week’s Sector Snapshot report.
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