Yesterday’s Insight Extra featured commentary surrounding the coronavirus. Therefore, we won’t dive too deep on that topic again today. We will, however, discuss the impact on S&P 500 one-week performance.
Coronavirus: Economic and Financial Market Impacts
As the number of reported cases increases across a growing number of countries, concern about the impact of the coronavirus on the global economy and financial markets is being elevated.
The impact of the Coronavirus on the U.S equity markets was somewhat muted this week. The S&P 500 saw a gain of 0.40%. A contributing factor to the gain is better than expected earnings reports from U.S companies.
Global equities were positive on the week. The S&P 500 gained 1.4% and outpaced small cap domestic stocks. Emerging markets bounced back a little with gains of 1.9%. The Bloomberg Barclays Aggregate Bond Index gained 0.3% on the week.
The preliminary Gross Domestic Product (GDP) growth number for the fourth quarter of 2019 was released this week. Slow growth is what was expected, and slow growth is what we got.
The energy sector placed last in performance in 2019, and the sector is getting used to being in last place or close to it.