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John Hancock: Weekly Market Recap Week Ended January 29th

February 3, 2021

 

Mixed January

The S&P 500 and the Dow fell 1% to 2% for the first month of the year while the NASDAQ posted a more than 1% gain, lifted in part by strong earnings from technology companies. The market’s positive start to 2021 reversed course entering the closing days of the month.

 

Earnings checkup

Although fourth-quarter earnings results continued to improve in the latest week, U.S. companies are still expected to report an overall earnings decline. With results in from more than one-third of companies in the S&P 500 as of Friday, earnings were projected to end up 2.3% lower than they were a year earlier, according to FactSet. That’s an improvement on the 4.8% decline that had been expected the previous week.

 

Fed holds steady

The U.S. Federal Reserve didn’t change its monetary policy stance at its latest meeting but noted that U.S. business activity has recently softened amid a resurgence in COVID-19 cases. The central bank expressed hope that vaccine distribution can help the economy recover.

 

Jobs ahead

A monthly labor market update due out on Friday is likely to be the week’s most closely watched economic report. The new release will show whether January marked the seventh consecutive month of a slowdown in jobs growth. In December, jobs fell by 140,000―the first time since April 2020 that jobs declined rather than increased.

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RISK: There are risks involved with investing, including loss of principal. Current and future portfolio holdings are subject to risks as well. Diversification may not protect against market risk. There is no assurance the goals of the strategies discussed will be met. International investments may involve risk of capital loss from unfavorable fluctuation in currency values, from difference in generally accepted accounting in principles or from economic or political instability in other nations. Emerging markets involve heightened risks related to the same factors as well as increased volatility and lower trading volume. Bonds and bond funds will decrease in value as interest rates rise. These and other risks are described more fully in the fund’s prospectus. CREDIT RISK: The issuer of a fixed income security may not be able to make interest and principal payments when due. The lower the credit rating of a security, the greater the risk of default on its obligation.

Investors should consider the investment objectives, risks, charges and expenses of the Fund carefully before investing. This and other information is contained in the Fund’s prospectus and summary prospectus, which may be obtained online or by calling 1-888-507-2798.

Please read the prospectus carefully before investing.