John Hancock: Weekly Market Recap Week Ended April 19th
Retail revival
After declining in February, a gauge of U.S. retail sales climbed 1.6% in March, posting its biggest monthly gain since September 2017. The gain was broad, with sales rising for nearly every retail store category.
Calming trend
Stock market volatility has declined to its lowest level in six months, based on a gauge that measures investors’ expectations of short-term stock volatility. The Cboe Volatility Index has fallen about 52% year to date to a level that’s below its historical average.
GDP ahead
The government’s initial estimate of first-quarter GDP growth is likely to be the most closely watched economic report scheduled this week. Economists estimate the economy grew at an annual rate of 1.5% to 2.0%—down from a 2.2% figure in last year’s fourth quarter.
Rally on hold
For the second week in a row, stocks were little changed overall, and the major indexes remained around 1% below their record highs achieved more than six months ago. April has seen relatively little movement so far, in contrast with stocks’ sharp gains in early 2019.
Source: https://wmr.jhinvestments.com