E US Stock Market Weekly Update April 20- April 24, 2020

Residential investment (averaging roughly 3-5% of GDP), which includes construction of new single-family and multifamily structures, residential remodeling, production of manufactured homes, and brokers’ fees.

Consumption spending on housing services (averaging roughly 12-13% of GDP), which includes gross rents and utilities paid by renters, as well as owners’ imputed rents and utility payments.”

Source: https://www.nahb.org/News-and-Economics/Housing-Economics/Housings-Economic-Impact/Housings-Contribution-to-Gross-Domestic-Product

A contribution of about 15% to 18% to the GDP is especially important to monitor. Still, this large decline may be an outlier number due to the coronavirus. Any sustained trend decline to the housing market can only have an additional negative impact on the US GDP growth.

For the week of April 20– April 24, 2020, the major US stock market indexes closed as follows on Friday, April 24, 2020:

• Dow Jones Industrial Average: Close 23775.27, -1.93% for the week, -16.69% Year-to-date (DIA)

• S&P 500 Index: Close 2836.74, -1.32% for the week, -12.20% Year-to-date (SPY)

• NASDAQ: Close 8634.52, -0.18% for the week, - 3.77%, Year-to-date (QQQ)

• Russell 2000: Close 1233.05, +0.32% for the week, -26.10% Year-to-date (IWM)

Weekly Stocks Gainers

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

1. Inovio Pharma (INO) Close 14.59, 5-day change +76.63%

2. Antero Resources Corp (AR), Close 2.25, 5-day change +63.04%

3. Montage Resources Corp (MR), Close 6.09, 5-day change +60.26%

Weekly Stocks Losers

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

1. Pennsylvania Rl Estate Invt TR (PEI), Close 3.51, 5-day change -35.77%

2. Invesco Mortgage Capital Inc (IVR), Close 2.66, 5-day change -27.91%

3. Marlin Business Serv (MRLN), Close 5.50, 5-day change -26.37%

Economic events for the week April 27- May 1, 2020:

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.