E US Stock Market Weekly Update March 16 - March 20, 2020

On March 17, 2020, the figure for the monthly US retail sales showed weakness as expected, and this trend for retail sales is a key metric to measure the economic slowdown or even possible recession for the US economy. The next few months will be indicative of the economic performance and the impact of retail sales on the GDP.

For the week of March 16– March 20, 2020, the major US stock market indexes closed as follows on Friday, March 20, 2020:

• Dow Jones Industrial Average: Close 19173.98, -17.30% for the week, -32.81% Year-to-date

• S&P 500 Index: Close 2304.92, -14.98% for the week, -30.94% Year-to-date

• NASDAQ: Close 6879.52, -12.64% for the week, - 23.33%, Year-to-date

• Russell 2000: Close 1013.89, -16.22% for the week, -32.67% Year-to-date

Weekly Stock Gainers

These are the top gainers, stocks with five days of consecutive price advances:

1. Zoom Video Communications Cl A (Nasdaq: ZM), Close 130.55, 5-day change +21.48%

2. Glory Star New Media Group Holdings Ltd. (Nasdaq: GSMG), Close 3.50, 5-day change +19.66%

Weekly Stocks Losers

These are the top 3 losers, stocks with 5 days of consecutive price declines:

1. Redwood Trust (NYSE: RWT), Close 4.85, 5-day change -61.39%

2. Colony Northstar Credit Real Estate Inc Class (NYSE: CLNC), Close 2.81, 5-day change -60.31%

3. Viad Corp (NYSE: VVI), Close 11.90, 5-day change -60.07%

The economic calendar for the week March 16- March 20, 2020:

The economic data to focus on this week are the preliminary manufacturing and services Purchasing Managers Indexes, the durable goods, the University of Michigan sentiment and the Gross Domestic Product annualized (QoQ) (4Q).

Sources:

https://quotes.wsj.com/index/US/COMP

https://www.barchart.com

https://www.dailyfx.com/economic-calendar

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Disclosure: I have no position in any stock mentioned

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