Freedom Capital Management May 2020 Market Update (Click for full article)

by | May 22, 2020 | Finance

May 8, 2020

What a change one month can bring! Today I am starting off with informational links to assist clients and those of you who are Small Business owners.

If you qualify for the IRS Tax relief check and haven’t received your payment check out this link: Coronavirus Tax Relief > Get My Payment https://www.irs.gov/coronavirus/get-my-payment

If you are a Small Business Owner the links below will help you with Small Business Association general information: SBA (Small Business Association) https://www.sba.gov/funding-programs/loans/coronavirus-relief-options

SBA EIDL Loan (Economic Injury Disaster Loan) https://www.sba.gov/funding-programs/disaster-assistance/coronavirus-covid-19

SBA PPP (Paycheck Protection Program) https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program

Now on to the Markets. The market indexes have rallied strongly off the March 23 bottom, and the question is whether they will continue the uptrend. Unemployment claims have skyrocketed to almost 15%. Many companies laid off or furloughed their employees until work resumes. I expect unemployment numbers will drop quickly when we get back to work but the very low unemployment number we had in December may not happen again for quite some time. Also, we are in the middle of corporate earnings announcements. It is important to remember these earnings announcements are based on information before we had this economic shutdown. Companies are holding back on forward looking outlooks because of all the uncertainty. Currently the news driving the markets is to open back up the economy, get people back to work, and whether the economy will get up and running again. Even with concerns that President Trump has threatened China with new tariffs, the Nasdaq had its best month since June 2000.

The Chart below, the S&P 500 exchange traded fund “SPY,” is how the market looked last month when I sent out the newsletter. I mentioned that we were trading sideways in a channel from the bounce off the March 23^rd low.

The next chart is the SPY as of this Friday, May 8^th. You can see it has broken above last month’s channel and has continued to move higher. In fact, SPY has regained more than 50% from the low it made on 3/23. How much higher will it go, and will we get back to the highs it made in February? Only time will tell.

The VIX Index has traded as high as 85 on 3/18. It has since continued to fall since then and ended this week below 30, at 27.98. While 27.98 is still a high VIX number indicating volatility in the market, the fact that it is dropping lower is a positive sign.

Percent of stocks above their 50 day and 200 day moving average. 71% of stocks are above their 50-day moving average but only 26% of the stocks are above their 200-day moving average. Seeing more stocks moving above their 50-day moving average is encouraging. The fact that only 26% of stocks are above their 200-day moving average is concerning. If the markets continue to get stronger more stocks will trade above their 200-day moving average.

Federal Reserve: The next FOMC meeting is on January 29, 2020.

Unemployment Rate: Total nonfarm payroll employment fell by 20.5 million in April, and the unemployment rate rose to 14.7 percent, the U.S. Bureau of Labor Statistics reported today.

Inflation Rate: The annual inflation rate for the United States is 1.5% for the 12 months ended March 2020 as compared to 2.3% previously, according to U.S. Labor Department data published on April 10, 2020.

Conclusion: Here is what is needed (Similar to what I wrote last month): The VIX Index to continue to fall, the percent of stocks above their 200-day moving average to rise, and for the unemployed workers to be able to get back to work safely.

In this month’s recap: Stocks rebounded sharply, fueled by a flattening of the COVID-19 curve and positive results from clinical trial investigating a treatment for the virus.

Monthly Economic Update

Presented by Guy Woolley, May 2020

U.S. Markets

Stocks rebounded sharply in April, fueled by a flattening pandemic curve and positive results from a clinical trial investigating a treatment for COVID-19.

The Dow Jones Industrial Average, which dropped 14% in March, jumped 11.08%. The Standard & Poor’s 500 Index rose 12.68%, and the NASDAQ Composite surged 15.45%.¹

Slowdown in Infections

Just as it appeared that April might be a repeat of March, stocks turned higher with signs of a slowdown in COVID-19 infections, especially in Italy and New York state. Though jobless claims were breathtakingly high, they were expected, allowing investors to focus on positive developments. A more stable bond market also helped support the rally.

The stock market struggled to move higher, as a weak start to earnings season and troubling economic data created some underlying crosscurrents.

Gains Despite Stalled Momentum

Momentum stalled as oil prices drifted lower, but accelerated again on the news of positive results from a clinical trial investigating a treatment for COVID-19.

Stocks continue to climb higher as more states begin the initial phase of reopening their economies and others have announced target reopening dates.

Sector Scorecard

All industry sectors moved higher in April, with increases in Communication Services (+18.10%), Consumer Discretionary (+19.66%), Consumer Staples (+10.19%), Energy (+37.17%), Financials (+11.28%), Health Care (+17.88%), Industrials (+11.24%), Materials (+20.81%), Real Estate (+9.45%), Technology (+16.83%), and Utilities (+5.26%).²

What Investors May Be Talking About in May

The national dialogue over the COVID-19 outbreak has shifted toward restarting the economy, with state and national leaders devoting more attention to plans of loosening the shelter-in-place and social-distancing guidelines.

There are two key aspects that investors may be watching as they try to figure out the pace of the recovery.

State by State

The first factor is the nature of the reopening. The White House plan for restarting the economy involves a three-step process, but leaves the decision-making to the governors of the states. The reopening timing and process may vary depending on health experts’ assessments of the risk profile of each state as well as voter sentiment to return to their usual activities.

The second factor is the public’s confidence in resuming their pre-quarantine routines. How soon will people be showing up to work, going out to eat, and traveling? That is a clear unknown at this time.

T I P O F T H E M O N T H

How large should an emergency fund be? There is no “one-size-fits-all” answer. The ideal amount may depend on your financial situation and lifestyle. For example, if you own a home or have dependents, you may be more likely to face financial emergencies.

World Markets

Rising global optimism worldwide propelled stocks upward, lifting the MSCI-EAFE Index to a 6.75% gain. European markets were broadly higher, with gains in France (+4.01%), Germany (+9.32%), and the U.K (+7.97%). Pacific Rim stocks saw similar gains, as Australia jumped 8.78%, Japan added 6.75%, and Hong Kong rose 4.41%.^3,4,5

Indicators

Gross Domestic Product: The U.S. economy shrank at a 4.8% annualized rate during the first quarter, which was the biggest drop in GDP since the fourth quarter of 2008.⁶

Employment: The unemployment rate jumped to 4.4%, up from the previous month’s 3.5% rate, as employers shed 701,000 jobs in March. Keep in mind that this month’s jobs report did not fully reflect the jobless claims filed during the last two weeks of March.⁷

Retail Sales: Spending by American consumers dropped in March, with retail sales falling 8.7%. It was the deepest decline since the tracking of retail sales began in 1992.⁸

Industrial Production: Industrial output fell 5.4%, the sharpest decline since 1946. Motor vehicles and parts were hit particularly hard, sliding 28%.⁹

Housing: Housing starts were affected by the downturn, falling by 22.3%. Existing home sales declined by 8.5% as buyer-and-seller activity slowed New home sales tumbled 15.4% in March, representing the biggest drop since July 2013.^10,11,12

Consumer Price Index: The cost of consumer goods fell by 0.4% in March, led by declines in energy (-5.8%), apparel (-2.0%), and transportation services (-1.9%). Excluding food and energy, the CPI fell by 0.1%.¹³

Durable Goods Orders: Orders of long-lasting goods shrank 14.4%, weighed down by orders for aircraft and their corresponding parts.¹⁴

Q U O T E O F T H E M O N T H

“Every individual matters. Every individual has a role to play. Every individual makes a difference.”

jane Goodall

The Fed

Minutes from the Federal Reserve’s two unscheduled meetings in March were released during the month.

The meetings resulted in a 50 basis point rate cut in the federal funds rate, followed by another 100 basis point cut. The meeting notes reflected how alarmed Fed officials were about the economic situation and the disruptions in the financial markets.¹⁵

Following the conclusion of the April 28th-29th meeting of the Federal Open Market Committee, Fed Chair Jerome Powell did not announce any new policies, but did emphasize the Fed’s commitment to using all available tools to support economic recovery.¹⁶

Sources: wsj.com, bigcharts.com, treasury.gov – 4/30/20

Indices are unmanaged, do not incur fees or expenses, and cannot be invested into directly. These returns do not include dividends. 10-year Treasury real yield = projected return on investment, expressed as a percentage, on the U.S. government’s 10-year bond.

T H E M O N T H L Y R I D D L E

Its teeth are sharp, and its spine is straight. It is not innately vicious, it does not hunt, but to cut things up is definitely its fate. What is it?

LAST MONTH’S RIDDLE: While most English words can be pluralized by adding the letter S on the end, there is one word that can be pluralized just by the addition of the letter C. What is it?

ANSWER: Dice. The singular form is “die,” i.e., to cast a die or to throw a single die. Sometimes people talk about “tossing a dice” rather than “tossing dice.”

Guy Woolley may be reached at 415-236-5364 or [email protected]
www.freedomcapitalmanagement.com

Know someone who could use information like this?
Please feel free to send us their contact information via phone or email. (Don’t worry – we’ll request their permission before adding them to our mailing list.)

Disclosures

This material was prepared by MarketingPro, Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. The information herein has been derived from sources believed to be accurate. Please note – investing involves risk, and past performance is no guarantee of future results. Investments will fluctuate and when redeemed may be worth more or less than when originally invested. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. This is neither a solicitation nor recommendation to purchase or sell any investment or insurance product or service, and should not be relied upon as such. All market indices discussed are unmanaged and are not illustrative of any particular investment. Indices do not incur management fees, costs, or expenses. Investors cannot invest directly in indices. All economic and performance data is historical and not indicative of future results. The Dow Jones Industrial Average is a price-weighted index of 30 actively traded blue-chip stocks. The NASDAQ Composite Index is a market-weighted index of all over-the-counter common stocks traded on the National Association of Securities Dealers Automated Quotation System. The Standard & Poor’s 500 (S&P 500) is a market-cap weighted index composed of the common stocks of 500 leading companies in leading industries of the U.S. economy. The Russell 2000 Index measures the performance of the small-cap segment of the U.S. equity universe. The CBOE Volatility Index^® (VIX^®) is a key measure of market expectations of near-term volatility conveyed by S&P 500 stock index option prices. NYSE Group, Inc. (NYSE:NYX) operates two securities exchanges: the New York Stock Exchange (the “NYSE”) and NYSE Arca (formerly known as the Archipelago Exchange, or ArcaEx^®, and the Pacific Exchange). NYSE Group is a leading provider of securities listing, trading and market data products and services. The New York Mercantile Exchange, Inc. (NYMEX) is the world’s largest physical commodity futures exchange and the preeminent trading forum for energy and precious metals, with trading conducted through two divisions – the NYMEX Division, home to the energy, platinum, and palladium markets, and the COMEX Division, on which all other metals trade. The SSE Composite Index is an index of all stocks (A shares and B shares) that are traded at the Shanghai Stock Exchange. The CAC-40 Index is a narrow-based, modified capitalization-weighted index of 40 companies listed on the Paris Bourse. The FTSEurofirst 300 Index comprises the 300 largest companies ranked by market capitalisation in the FTSE Developed Europe Index. The FTSE 100 Index is a share index of the 100 companies listed on the London Stock Exchange with the highest market capitalization. Established in January 1980, the All Ordinaries is the oldest index of shares in Australia. It is made up of the share prices for 500 of the largest companies listed on the Australian Securities Exchange. The S&P/TSX Composite Index is an index of the stock (equity) prices of the largest companies on the Toronto Stock Exchange (TSX) as measured by market capitalization. The Hang Seng Index is a free float-adjusted market capitalization-weighted stock market index that is the main indicator of the overall market performance in Hong Kong. The FTSE TWSE Taiwan 50 Index is a capitalization-weighted index of stocks comprises 50 companies listed on the Taiwan Stock Exchange developed by Taiwan Stock Exchange in collaboration with FTSE. The MSCI World Index is a free-float weighted equity index that includes developed world markets and does not include emerging markets. The Mexican Stock Exchange, commonly known as Mexican Bolsa, Mexbol, or BMV, is the only stock exchange in Mexico. The U.S. Dollar Index measures the performance of the U.S. dollar against a basket of six currencies. Additional risks are associated with international investing, such as currency fluctuations, political and economic instability and differences in accounting standards. This material represents an assessment of the market environment at a specific point in time and is not intended to be a forecast of future events, or a guarantee of future results. MarketingPro, Inc. is not affiliated with any person or firm that may be providing this information to you. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional.

CITATIONS:

1 – The Wall Street Journal, April 30, 2020

2 – FactSet Research, April 30, 2020

3 – MSCI.com, April 30, 2020

4 – MSCI.com, April 30, 2020

5 – MSCI.com, April 30, 2020

6 – The Wall Street Journal, April 29, 2020

7 – The Wall Street Journal, April 3, 2020

8 – The Wall Street Journal, April 15, 2020

9 – MarketWatch.com, April 15, 2020

10 – CNBC.com, April 16, 2020

11 – Reuters.com, April 21, 2020

12 – Reuters.com, April 23, 2020

13 – The Wall Street Journal, April 10, 2020

14 – The Wall Street Journal, April 24, 2020

15 – The Wall Street Journal, April 8, 2020

16 – The Wall Street Journal, April 29, 2020

Freedom Capital Management Market Update April 2020 (Click for full article)

by | Apr 6, 2020 | Finance

4/5/2020

I hope everyone is healthy and staying out of harm’s way. To begin I am going to examine what the technical traders are discussing regarding the Markets. Specifically, the S&P 500 index.

The Chart above is of the E-mini S&P 500 Index on a 10-year weekly chart. You can see for almost 9 years the S&P 500 traded in an upward channel in a very orderly way. On the right side of the chart you can see the extremely quick drop when as the Coronavirus made the news I have marked the low that was made on 12/24/2018 and the lower low, to the right, that the S&P 500 made on 3/23/2020, almost 1-1/2 years later . The markets high was 3397.50 on 2/20/2020 and the recent low was at 2174 on 3/23/2020. That unprecedented drop only took 22 days. The chart below is a daily chart of the E-Mini S&P 500 index that starts at the beginning of this year.

Since the low on 3/23/2020 within the last 8 days the market has been trading in a horizontal channel. Also notice the light gray line is the mark of the 10-year channel which is shown of the first chart. The market is back in the channel. Technical traders are watching if the market breaks above or below the horizontal channel it is in now. They will also be watching if volume increases, as volume over the last few days has calmed down. Everybody is hoping to see the Coronavirus cases start to decline, but the medical predictions and projections are changing every day. There will be opportunities at some point but right now we must be cautious.

The VIX Index has traded as high as 85.47, closed Friday at 46.80. It has begun to fall but is still at a very high level. A High VIX is an indication that market prices could swing widely and rapidly.

Percent of stocks above their 50 day and 200 day moving average. Only 5.9% of stocks are above their 50-day moving average and only 8.7% of the stocks are above their 200-day moving average. These are very bearish numbers. Will be looking for a significant increase in stocks to trade above their 50-day moving average.

Federal Reserve: After two unscheduled rate cuts the next FOMC meeting is on April 29^th.

Unemployment Rate: The number of unemployed persons rose to 7.1 million in March as reported by the Bureau of Labor Statistics.

Inflation Rate: The core inflation rate rose to 2.5% as higher food, shelter and medical care rise as reported on March 11 by the Labor Department.

Here is what is needed: The VIX to continue to fall, the percent of stocks above their 50-day moving average to rise, and for the unemployed to be able to get back to work.

In this month’s recap: The CARES Act moves to assist Americans quarantined by COVID-19, providing relief with a $2T stimulus package; markets worldwide react to coronavirus-related volatility.

Monthly Economic Update

Presented by Guy Woolley, April 2020

THE MONTH IN BRIEF

The Coronavirus Aid, Relief, and Economic Security (CARES) Act has been signed into law, bringing relief to millions of Americans, most of whom are expected to be quarantined for at least another month. The White House has asked Americans to continue “socially distancing” during the month of April. Volatility continued in International markets, even as the COVID-19 (novel coronavirus) reached the United States. The Standard and Poor’s 500 (S&P 500) Index was down 12.51% for March.¹

DOMESTIC ECONOMIC HEALTH

At the end of March, the CARES Act was signed into law, releasing $2 trillion in relief to millions of Americans and U.S. businesses. This includes $1,200 checks to American taxpayers ($2,400 to married couples) and four months of additional $600 payments to those claiming unemployment.^2,3

February’s unemployment rate rose a point to 5.6% (U-6 Unemployment rose to 7%), prior to the St. Louis Fed’s declaration that unemployment could jump to 32.1%, post-coronavirus. The 47 million out-of-work Americans would be the highest number seen since 1948. Michigan consumer sentiment numbers dropped to 89.1 for March, while February’s consumer spending stayed at 0.2%. February retail sales dropped to -0.5% from the previous month’s 0.6%. The ISM Purchasing Managers Index (PMI) dropped to 50.1 for February with new orders sinking to 45.9. The ISM Non-Manufacturing PMI rose to 57.3.^4,5,6

GLOBAL ECONOMIC HEALTH

China, where the first widespread outbreak of COVID-19 was reported, has reported a considerable drop in cases (though, it is difficult to verify their numbers). However, the loss of workers due to illness and the changes in demand worldwide may have a long-term effect on China’s gross domestic product (GDP). The overall drop of 3.7% in GDP, crossed with an upswing in China’s manufacturing PMI to a score of 52, indicate a country that has come back to work.^7,8,9

Europe and the United Kingdom have also been hit heavily by COVID-19, with Italy and Spain seeing a large number of cases. Aggressive actions to subsidize employment in Europe are projected to stem unemployment claims to some degree. Meanwhile, inflation in the 19-country euro area has dropped to 0.7%.^10,11

WORLD MARKETS

There were several markets sinking in March, including the U.K.’s FTSE 100 (-13.81%), the German Dax (-16.44%), the French CAC 40 (-17.21%), Japan’s Nikkei 225 (-10.53%), Australia’s All-Ordinaries (-21.51), Brazil’s Bovespa (-29.90), Mexico’s Bolsa (-16.38%), Hong Kong’s Hang Seng (-9.67), China’s Shanghai Composite (-4.51), Malaysia’s KLCI (-8.89), South Korea’s Kospi Composite (-11.69), and Russia’s RTS (-21.95).^12,13

The MSCI EAFE Index (which measures performance across developed stock markets outside North America) took a 14.77% fall.¹⁴

COMMODITIES MARKETS

Energy commodities fell in March, including light crude (-55.17%), heating oil (-33.10%), natural gas (-3.12%), and unleaded gas (-59.45%). The drop in oil prices was attributed to Saudi Arabia and Russia, who show no signs of compromising in their standoff over oil supply.¹⁵

Meanwhile, other commodities stepped into negative territory in March, such as corn (-6.75%), cocoa (-18.88%), cotton (-16.65%), and sugar (-25.80%). The exceptions for March were soybeans (+0.11%), wheat (+7.38%), and coffee (+7.41%).¹⁵

Metals also had a difficult month, with March numbers diminishing for gold (-0.74%), silver (-14.75%), platinum (-17.13%), and copper (-12.96%). The U.S. Dollar Index closed at 98.95, up 1.62%.^15,16

REAL ESTATE

Freddy Mac’s Primary Mortgage Market Survey for March 26 revealed the mean interest rate on a 30-year home loan as 3.5%, up 0.05% since the end of February. The 15-year home loan sank 0.03% to 2.92%.¹⁷

Existing home sales rose to 6.5% for February, with 5.77 million homes available. New home sales fell back 4.4% for February, with 765,000 houses on the market. Housing starts also pulled back 1.5%. Building permits stepped back 5.5%.⁴

T I P O F T H E M O N T H

Anyone who starts a business needs an operational strategy. A good one includes metrics, a day-to-day plan detailing who will do what, and an assessment of external and internal risks.

LOOKING BACK, LOOKING FORWARD

March saw the end of the worst quarter for stocks in U.S. history. The Dow Jones Industrial Average (DJIA) closed at 21,917.16. The Standard and Poor’s 500 (S&P 500) ended the month at 2,584.59, while the NASDAQ Composite Index closed at 7,700.10.¹⁸

Sources: Bloomberg.com, Barchart.com, treasury.gov – 00/00/00

Indices are unmanaged, do not incur fees or expenses, and cannot be invested into directly. These returns do not include dividends. 10-year Treasury real yield = projected return on investment, expressed as a percentage, on the U.S. government’s 10-year bond.

Amid so much uncertainty about the duration and impact of the COVID-19 coronavirus, it’s difficult to say how much volatility might be ahead. The arrival of CARES Act checks and other stimulus measures should be a welcome relief to households and businesses. While it’s far too early to understand the full economic impact of what’s to come, the news that this ordeal has passed will be very welcome.

Q U O T E O F T H E M O N T H

“Adversity is the first path to truth.”

Lord BYRON

UPCOMING RELEASES

Here are some of the economic news items for investors to consider in April: the March Institute for Supply Management Non-Manufacturing Index (4/3), March’s Consumer Price Index (4/10), March’s Producer Price Index (4/9), the initial April Consumer Sentiment Index from the University of Michigan (4/9), March retail sales (4/15), March housing construction activity (4/16), March existing home sales (4/21), March new home sales (4/23), March durable goods orders (4/24), March personal spending and income and the final April University of Michigan Consumer Sentiment Index (4/24), the estimate of first-quarter gross domestic product from the Bureau of Economic Analysis (4/29), and then the Conference Board’s March Consumer Confidence Index and the latest S&P/Case-Shiller Home Price Index (4/28). NOTE: Some releases may be delayed or rescheduled in the wake of the COVID-19 epidemic.

T H E M O N T H L Y R I D D L E

While most English words can be pluralized by adding the letter S on the end, there is one word that can be pluralized just by the addition of the letter C. What is it?

LAST MONTH’S RIDDLE: What gets broken without being held?

ANSWER: A promise.

Guy Woolley may be reached at 415-236-5364
www.freedomcapitalmanagement.com

Know someone who could use information like this?
Please feel free to send us their contact information via phone or email. (Don’t worry – we’ll request their permission before adding them to our mailing list.)

Disclosures:

This material was prepared by MarketingPro, Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. The information herein has been derived from sources believed to be accurate. Please note – investing involves risk, and past performance is no guarantee of future results. Investments will fluctuate and when redeemed may be worth more or less than when originally invested. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. This is neither a solicitation nor recommendation to purchase or sell any investment or insurance product or service, and should not be relied upon as such. All market indices discussed are unmanaged and are not illustrative of any particular investment. Indices do not incur management fees, costs, or expenses. Investors cannot invest directly in indices. All economic and performance data is historical and not indicative of future results. The Dow Jones Industrial Average is a price-weighted index of 30 actively traded blue-chip stocks. The NASDAQ Composite Index is a market-weighted index of all over-the-counter common stocks traded on the National Association of Securities Dealers Automated Quotation System. The Standard & Poor’s 500 (S&P 500) is a market-cap weighted index composed of the common stocks of 500 leading companies in leading industries of the U.S. economy. The Russell 2000 Index measures the performance of the small-cap segment of the U.S. equity universe. The CBOE Volatility Index® (VIX®) is a key measure of market expectations of near-term volatility conveyed by S&P 500 stock index option prices. NYSE Group, Inc. (NYSE:NYX) operates two securities exchanges: the New York Stock Exchange (the “NYSE”) and NYSE Arca (formerly known as the Archipelago Exchange, or ArcaEx®, and the Pacific Exchange). NYSE Group is a leading provider of securities listing, trading and market data products and services. The New York Mercantile Exchange, Inc. (NYMEX) is the world’s largest physical commodity futures exchange and the preeminent trading forum for energy and precious metals, with trading conducted through two divisions – the NYMEX Division, home to the energy, platinum, and palladium markets, and the COMEX Division, on which all other metals trade. The SSE Composite Index is an index of all stocks (A shares and B shares) that are traded at the Shanghai Stock Exchange. The FTSE Bursa Malaysia KLCI, also known as the FBM KLCI, is a capitalization-weighted stock market index, composed of the 30 largest companies on the Bursa Malaysia by market capitalization. The Hang Seng Index is a free float-adjusted market capitalization-weighted stock market index that is the main indicator of the overall market performance in Hong Kong. The NIFTY 50 (National Index Fifty) is the broad-based stock market index for the Indian equity market. The Mexican Stock Exchange, commonly known as Mexican Bolsa, Mexbol, or BMV, is the only stock exchange in Mexico. Established in January 1980, the All Ordinaries is the oldest index of shares in Australia. It is made up of the share prices for 500 of the largest companies listed on the Australian Securities Exchange. The Korea Composite Stock Price Index, or KOSPI, is the representative stock market index of South Korea, like the S&P 500 in the United States. The Nikkei-225 Stock Average is a price-weighted average of 225 top-rated Japanese companies listed in the First Section of the Tokyo Stock Exchange. The MSCI EAFE Index is an equity index which captures large and midcap representation across 21 developed markets countries around the world, excluding the U.S. and Canada. The CAC-40 Index is a narrow-based, modified capitalization-weighted index of 40 companies listed on the Paris Bourse. The Bovespa Index, best known as Ibovespa, is the benchmark index of about 60 stocks that are traded on the B3 (Brasil Bolsa Balcão). The DAX is a blue-chip stock market index consisting of the 30 major German companies trading on the Frankfurt Stock Exchange. The RTS Index is a free-float capitalization-weighted index of 50 Russian stocks traded on the Moscow Exchange, calculated in U.S. dollars. The U.S. Dollar Index measures the performance of the U.S. dollar against a basket of six currencies. Additional risks are associated with international investing, such as currency fluctuations, political and economic instability and differences in accounting standards. This material represents an assessment of the market environment at a specific point in time and is not intended to be a forecast of future events, or a guarantee of future results. MarketingPro, Inc. is not affiliated with any person or firm that may be providing this information to you. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional.

CITATIONS:

1 – CNN.com, March 31, 2020.

2 – CNBC.com, March 30, 2020.

3 – Forbes.com, March 29, 2020.

4 – Investing.com, March 31, 2020.

5 – USA Today, March 31, 2020.

6 – MarketWatch, March 31, 2020.

7 – CNBC.com, April 1, 2020.

8 – Nikkei Asian Review, March 31, 2020.

9 – Forbes.com, March 31, 2020.

10 – CNBC.com, March 30, 2020.

11 – Eurostat, March 31, 2020.

12 – New York Times, March 31, 2020.

13 – Barchart.com, March 31, 2020.

14 – MarketWatch.com, March 31, 2020.

15 – CNN.com, March 31, 2020.

16 – MarketWatch.com, March 31, 2020.

17 – Freddie Mac, March 31, 2020.

18 – Bloomberg.com, March 31, 2020.