The S&P 500 fell 1.2% on the week aided by a 2.6% drop on Friday where both China and the United States increased retaliatory tariffs. Small cap equities continue to be weak and fell 2.5% on the week.
Markets traded up 2.7% after last week’s trade off. Some of the pop may be attributed to the strength in earnings reports for retail companies this week. Retail is not dead yet, and it looks like traditional retail companies are gearing up for a marathon.
The S&P 500 fell 2.9% on Wednesday, the second occurrence this month, and erased previous gains for the week. The index is down about 6% from highs reached in July.
Markets have been all over the place this week. The “place” in this context meaning down. The S&P 500 Index saw its worst day this year on Monday, trading down 3%.