I Ate Too Much
This will have to be a short post since it’s the holiday week and I have to spend 4 hours on the treadmill today to work off food and wine.
Looks like there was a little bit of a “Santa Claus rally” last week as the major indices did pretty well over all. Congressional compromise and some good economic data contributed to the overall good week in equities. It will probably be a slow week in the markets and for economic releases.
For the week, the Dow Jones Industrial Average (DJIA) gained 3.60% to finish at 12,294, the Standard & Poor’s 500 (S&P 500) gained 3.74% to finish at 1,265 and the Nasdaq Composite Index rose 2.48% to finish at 2,619. The Russell 2000 Index, which tracks the performance of small capitalization stocks, rose 3.59% to finish at 748.
For the next few weeks, there will be a lot of predictions to sift through – we look forward to that as well as bringing you our thoughts on them as well as some of our own too.
Enjoy the holiday week and have a safe and fun New Year’s weekend. If you are a college football fan, enjoy next Monday, which is the best day in college football all year. If you hear screaming in Alexandria, VA around 1pm on Jan 2nd, it will be for the University of South Carolina Gamecocks in the Capital One Bowl.
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The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investment(s) may be appropriate for you, consult your financial advisor prior to investing. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and cannot be invested into directly. Stock investing involves risk including loss of principal. The Dow Jones Industrial Average is comprised of 30 stocks that are major factors in their industries, and widely held by individuals and institutional investors. The Standard & Poor’s 500 Stock Index (S&P 500) is an unmanaged capitalization weighted index of 500 stocks designed to measure performance of the broad domestic economy through changes in the aggregate market value of 500 stocks representing all major industries. The NASDAQ Composite Index measures all domestic and non-U.S. based common stocks listed on The NASDAQ Stock Market. The market value, the last sale price multiplied by total shares outstanding, is calculated throughout the trading day, and is related to the total value of the Index. The Russell 2000 Small Stock Index is an unmanaged index generally representative of the 2000 smallest companies in the Russell 3000 Index. The Russell 2000 is an unmanaged index generally comprised of companies with lower price-to-book ratios and lower forecasted growth values.
David B. Armstrong, CFA
President & Co-Founder
Dave got into the industry when he discovered his passion for finance in his mid-20’s. He’s a combat veteran and served as an officer in the United States Marines Corps on both active duty and in the reserves, retiring at the rank of Lieutenant Colonel. While serving on active duty, Dave was unable to spend money on deployments, so he became a self-taught investor. Along with a few bucks cash as a bouncer, his investing performance grew to be good....
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