Stocks Have Best Week Of The Year As Economy Grinds To A Halt

Yeah, this happened…

And so did this…

 

So this…

April was a volatile month in markets - bonds, bullion, and stocks higher; crude, copper, and base commodities all tumbled

• US Equities up for 5th of last 6 months (highest monthly close ever)
• S&P Tech Sector up 5 months in a row – longest streak since Aug 2014 (record monthly close)
• S&P Energy Sector down 4th month in a row (lowest monthly close since July)
• Treasury Yields fell for the 3rd of the last 4 months (lowest monthly close in yields since October)
• WTI fell for 2nd month in a row (lowest monthly close since August)
• Copper down for 3rd month in a row – longest losing streak since Oct 2015 (lowest monthly close since December)
• Dollar Index fell for 3rd of last 4 months (lowest monthly close sine October)
• GBP/USD has risen for 6 of the last 7 weeks (and April was GBP’s best month since April 2015)
• Gold was up for the 4th month in a row – longest winning streak since Aug 2012 (highest monthly close since October)

Bonds, Bullion, and Stocks all rose around 1.25% on the month, but Banks were down in April (and March) for the worst 2-month drop since Feb 2016.

 

Tech led the month, Energy lagged…

 

Dollar Index fell for the 2nd month in a row (3rd of 4) erasing most of the gains post-Trump

 

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It was a tough week for ‘soft’ data and reality-checks – who do you trust to forecast reality?

 

But stocks were all higher (apart from Trannies)…The best week of the year for The Dow!!! But it ended on a weak note…

 

Small Caps were hit hard today as “Most Shorted” stocks’ squeeze seemed to end…

 

Utes were the only sector red on the week, Healthcare and Tech led (with Financials solid post-Macron)…

 

Breadth has remained weak in this entire recent surge…