Investment Commentary – March 9th, 2016

Market Indices as of Market Close  March 9th, 2016

Dow 16,899 (-3.02% YTD)
S&P 1,986 (-2.81% YTD)
NASDAQ 4,703 (-6.07% YTD)
Global Dow 2,033 (2,033 52 week low /2,644 high)
10-year Treasury 1.85 (1.53 52 week low /2.50 high)
Gold 1,241 ($1,047 52 week low /high $1,264)
Oil $34.49 ($28.74 52 week low /high $65.71)

U.S. stocks finish higher as oil futures rebound

U.S. stocks closed higher on Wednesday as oil futures recovered, providing some relief for battered energy shares. The S&P 500 finished 9.93 points, or 0.5%, higher at 1,989.20. The Dow industrials finished 35.85 points, or 0.2%, higher at 16,999.95, led higher by Chevron Corp. CVX, +4.60% and Microsoft Corp. MSFT, +2.30% The Nasdaq Composite gained 25.55 points, or 0.6%, to 4,674.38.

Blackrock Weekly Commentary Overview

Stocks and high yield bonds rose again last week, eliminating much of their 2016 losses. The Dow Jones Industrial Average advanced 2.20% to end the week at 17,006, while the S&P 500 Index climbed 2.62% to 1,999 and the Nasdaq Composite Index grew 2.76% to 4,717. Meanwhile, the yield on the benchmark 10-year U.S. Treasury rose from 1.76% to 1.88% as its price slipped.

The tailwind for stocks last week was more evidence of stabilization in the U.S. economy. Looking ahead, while the economic recovery remains uneven, any firming in growth is likely to lend support to the recent advance in two, somewhat different asset classes in particular: Treasury Inflation Protected Securities (TIPS) and value stocks.


March 9th, 1933: Emergency banking Act: On this day in 1933, new president Franklin Roosevelt ended the first hectic week of his famed “first 100 days” by submitting the Emergency Banking Act to Congress.

The views presented are not intended to be relied on as a forecast, research or investment advice and are the opinions of the sources cited and are subject to change based on subsequent developments. They are not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investments. strategy