{"id":4005,"date":"2020-09-12T16:09:34","date_gmt":"2020-09-12T20:09:34","guid":{"rendered":"https:\/\/envisionco.net\/?p=4005"},"modified":"2020-09-12T16:09:34","modified_gmt":"2020-09-12T20:09:34","slug":"week-ending-9-11-2020","status":"publish","type":"post","link":"https:\/\/envisionco.net\/?p=4005","title":{"rendered":"Week Ending 9\/11\/2020"},"content":{"rendered":"

MARKET RECAP<\/strong><\/p>\n

For the week, US stocks fell by 2.5% while the Nasdaq composite was off by 4.1%. The VTI (the total US stock market) has sustained some technical damage, and is barely above its 50-day moving average, after recovering from earlier in the day on Friday when it fell below. A break below the 50-day straight from here, or a failed rally to new highs followed by a break below the 50-day, could signal a bigger drop ahead.<\/p>\n

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Tech stocks have been up and down all week in volatile trading. The Nasdaq 100 had a 3% span from high to low on Friday and is down 11% since September 2. That decline was after a 58% run from late March. Apple is down 16% from its high but is still up almost 100% since its March 23 low. Tesla dropped by 21% after it was not selected to join the S&P 500. The overall US market is down 6.8% from September 2 closing price.<\/p>\n

The easy gains in economic output coming off Q2 are beginning to slow down. The Federal Reserve Bank of Atlanta estimates the US will expand by 7% in Q3, up from a 9.1% contraction in Q2. But they are only looking for a Q4 expansion of 1.25%. Unemployment claims came in at 884,000 last week. The pace of the decline is beginning to flatten out at a level that still exceeds the prepandemic record or 695,000. The number of job postings is at levels 20% below last year according to Indeed.com. Washington’s inability to agree on a new stimulus package and restrictions that still remain on many businesses such as restaurants and bars in parts of the country are also holding back the economy.<\/p>\n

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SCOREBOARD<\/strong><\/p>\n

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MARKET RECAP For the week, US stocks fell by 2.5% while the Nasdaq composite was off by 4.1%. The VTI (the total US stock market) has sustained some technical damage, and is barely above its 50-day moving average, after recovering … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1893,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-4005","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/envisionco.net\/index.php?rest_route=\/wp\/v2\/posts\/4005","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/envisionco.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/envisionco.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/envisionco.net\/index.php?rest_route=\/wp\/v2\/users\/1893"}],"replies":[{"embeddable":true,"href":"https:\/\/envisionco.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4005"}],"version-history":[{"count":6,"href":"https:\/\/envisionco.net\/index.php?rest_route=\/wp\/v2\/posts\/4005\/revisions"}],"predecessor-version":[{"id":4014,"href":"https:\/\/envisionco.net\/index.php?rest_route=\/wp\/v2\/posts\/4005\/revisions\/4014"}],"wp:attachment":[{"href":"https:\/\/envisionco.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4005"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/envisionco.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4005"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/envisionco.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4005"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}