E US Stock Market Weekly Review Aug. 31- Sept. 4, 2020

The United States Unemployment Rate

“The US unemployment rate fell to 8.4 percent in August of 2020 from 10.2 percent in the previous month, below market expectations of 9.8 percent, and marking the 4th straight decline after April's all-time high of 14.7 percent. The number of unemployed persons dropped by 2.8 million to 13.6 million, as many businesses continued to rehire employees following coronavirus lockdowns. Still, the jobless rate remains well above 3.5 percent in February, before the pandemic hit but lower than the 2008/2009 Global Financial Crisis peak of 10 percent. Official figures still may be far off the reality as many people are being classified as employed even though they are absent from work.”

Source: Trading Economics

Εικόνα που περιέχει στιγμιότυπο οθόνηςΠεριγραφή που δημιουργήθηκε αυτόματα

For the week of August 31– September 4, 2020, the major US stock market indexes closed as follows on Friday, September 4, 2020:

• Dow Jones Industrial Average: Close 28133.31, -1.82% for the week, -1.42% Year-to-date

• S&P 500 Index: Close 3426.96, -2.31% for the week, +6.07% Year-to-date

• Nasdaq: Close 11313.13,-3.27% for the week, +26.09%, Year-to-date

• Russell 2000: Close 1535.30, -2.73% for the week, -7.98% Year-to-date

Weekly Stocks Gainers

These are the top 3 gainers, stocks with 5 days of consecutive price advances:

1. Kensington Capital Acquisition Corp Cl A (KCAC), Close 22.50, 5-day change +127.62%

2. Gogo Inc (GOGO), Close 10.04, 5-day change +100.80%

3. Tracon Pharma (TCON), Close 3.10, 5-day change +71.27%

Weekly Stocks Losers

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

1. Aditx Therapeutics Inc (ADTX), Close 2.36, 5-day change -39.18%

2. Vir Biotechnology Inc (VIR), Close 28.57, 5-day change -31.39%

3. Kelly Services Inc Cl B (KELYB), Close 20.96, 5-day change -30.33%

Economic events for the week September 7- September11, 2020:

Important economic data for the week will be the Weekly Jobless and the Inflation Rate.

View single page >> |

Disclosure: I have no position in any stock mentioned

How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.
William K. 5 months ago Member's comment

Interesting, Things are getting better and some folks are getting called back to work. Unfortunately it seems that in addition to some very big winners there are a lot of losers. small enough that even the large quantity does not afflict the bright average.

It is easy to blame it all on the pandemic disrupting things, but it is also rather incorrect. The federal bank has been pushing in the wrong direction for quite a while, as evidenced by the incredibly low interest rates paid on savings. So we can see that the 1% group certainly does have friends in high places.