(Friday, July 10, 2020, 7:03 p.m.) The Standard & Poor's 500 stock index surged 1% today on positive news about a coronavirus treatment.
The S&P 500 roughly tracks with the progress of civilization, but progress is unpredictable and hard to see one day at a time.
Here's a snapshot depicting progress from a longer-term perspective: For the five years through June 30, 2020, the S&P 500 was No. 1 among the broadly diversified group of 13 asset classes listed here. Three months after the Covid crisis began, the U.S. stock market topped this long list of securities investments with a total return over the five years of 66.5%.
Closing Friday at 3,185.04, the S&P 500 posted a 1.74% gain over last week. It's up 35% from the March 23rd Covid-crisis bear market low.
On Thursday, the S&P 500 sent a bullish technical signal called a "golden cross," which has marked the end of previous bear markets. In addition, the index's 50-day average crossed above the 200-day average, another sign of strength.
Stock prices have swung wildly since the virus crisis started in March and it's wise to expect considerable volatility in the months ahead.
Nothing contained herein is to be considered a solicitation, research material, an investment recommendation, or advice of any kind, and it is subject to change without notice. It does not take into account your investment objectives, financial situation, or particular needs. Product suitability must be independently determined for each individual investor.
This material represents an assessment of the market and economic environment at a specific point in time and is not intended to be a forecast of future events or a guarantee of future results. Forward-looking statements are subject to certain risks and uncertainties. Actual results, performance, or achievements may differ materially from those expressed or implied. Information is based on data gathered from what we believe are reliable sources. It is not guaranteed as to accuracy, does not purport to be complete, and is not intended to be used as a primary basis for investment decisions.
© 2022 Advisor Products Inc. All Rights Reserved.