Market Hits 3rd Week Of Gains
Double Dividend Stocks | Mar 05, 2016 09:09PM ET
Markets: The market had its 3rd week of gains, with the Dow and the S&P 500 finishing at highs for 2016, as a short squeeze played out in Energy-related stocks. The rally was propelled by higher Crude Oil and Basic Materials prices. A better than expected US Payrolls report on Friday also pointed to a more resilient US economy, with companies adding 242K jobs in Feb., vs. 190K forecasted.
Dividend Stocks Update: These high dividend stocks go ex-dividend this coming week: NYSE:FGP, NASDAQ:IPHS, NYSE:NEWM, NYSE:TCAP, NYSE:ABR, NASDAQ:ESBK, NASDAQ:NCMI, NYSE:OUT, NYSE:STNG, NYSE:TAL, NASDAQ:FTR, NASDAQ:FDUS, NYSE:OB, NYSE:ARES, NYSE:FUN, NYSE:APTS, NYSE:MSL, NYSE:OAKS, NASDAQ:SOHO
Volatility: The VIX fell 4.34% this week, finishing at $18.95.
Currency: The US dollar fell vs. most major currencies this week.
Market Breadth: 23 of the DOW 30 stocks rose this week, vs. 22 last week. 80% of the S&P 500 rose this week, vs. 81% last week.
US Economic News: The Unemployment Rate held at 4.9%. Jan. and Dec. jobs were revised upwards by a total 30K. 242K jobs were created in Feb., vs. 172K in Jan. Job growth occurred in health care and social assistance, retail trade, food services and drinking places, and private educational services. Mining employment continued to decline. Construction spending rose 1.5%.
Week Ahead Highlights: It’ll be a light data week, and it will also be a quiet week for earnings. Investors will be waiting for news from OPEC member nations, as to the possibility of a production freeze happening.
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Next Week’s US Economic Reports:
Sectors & Futures:
The Energy sector led the pack this week, as Healthcare trailed.
Oil futures had a big week, rising over 10%, with Natural Gas futures trailing:
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