July 18, 2016

Stocks Set New Records – Financially Simple

Stocks Set New Records WEEKLY UPDATE – JULY 18, 2016 Stocks were up for the third week in a row, posting record highs on better-than-expected earnings results and solid domestic economic data.[1] Since the bottom of the post-Brexit selloff, the S&P 500 has gained 8.06%.[2] For the week, the S&P 500 gained 1.49%, the Dow grew 2.04%, the NASDAQ added 1.47%, and the MSCI EAFE grew 3.65%.[3] Despite the upbeat data, violence continues to threaten. On Sunday, three police officers were killed in Baton Rouge, Louisiana. On Thursday, a terrorist drove through hundreds of people in Nice, France, killing at least 84. A thwarted coup by Turkey’s military on Friday resulted in hundreds of deaths and could lead to political instability after the president rounded up thousands of suspected plotters.[4] The human cost of violence is incalculable and its effects will be felt by victims for many years to come; however, the effect on markets and economies is measurable. It may seem tasteless to attempt to calculate the cost of terror in dollars and cents, but we should remember that one of the goals of terrorism is to cause financial as well as physical damage. Some estimates show that 9/11, the […]