MT Market Model (24 May’20)

Despite the relatively muted moves, all three major indexes gained at least 3% this week, in part driven by optimism that coronavirus vaccines will be available later this year. Additionally, all 50 states have relaxed some of their coronavirus restrictions, stirring hopes about an economic rebound as municipalities start to reopen.

MT Model (21 May’20)

Markets initially wobbled between small gains and losses, then dropped solidly into negative territory as the afternoon progressed. Thursday’s drawback came after Labor Department data showed about 2.4 million Americans filed for unemployment benefits in the week ending May 16, extending a swift and severe deterioration in the labor market. More than 38 million Americans have filed applications since mid-March.

MT Market Model (19 May’20)

U.S. stocks fell Tuesday as investors grew more skittish about a potential coronavirus vaccine that sparked a big rally the previous day. The declines came a day after the blue chips notched their biggest rally in more than a month, fueled by promising data on a vaccine under development at Moderna. Some of that optimism evaporated Tuesday afternoon when a report on medical-news site Stat News cast doubt on the data.

MT Market Model (18 May’20)

The Dow Jones Industrial Average surged more than 900 points Monday, its best day since April 6, on hopeful developments surrounding a potential coronavirus vaccine. A rebound in oil prices, a pledge of further stimulus from the head of the Federal Reserve and a gradual easing of lockdown measures also boosted sentiment. Of the 30 stocks in the blue-chip index, 29 rallied as did all 11 sectors of the S&P 500.

MT Market Model (17 May’20)

U.S. stocks edged higher Friday but notched weekly declines after a wide range of data this week revealed the sharp contraction in economic activity across the nation. Meanwhile, the possibility of renewed trade tensions between the U.S. and China came to the forefront, igniting concerns about relations between two of the biggest world economies at a time when the U.S. is already facing a massive downturn.