John Hancock: Weekly Market Recap Week Ended June 28th

V-shaped recovery

June’s strongly positive results for stocks marked a sharp reversal from May, as the major indexes’ June gains were roughly equal in magnitude to the previous month’s losses. The S&P 500, the Dow, and the NASDAQ all gained around 7% on a price basis; it was the best June since 1955 for the S&P 500, and the best since 1938 for the Dow.

Midyear checkup

June’s results extended a strong run through the first six months of 2019, maintaining the momentum from a record-length bull market that’s more than a decade old. The S&P 500’s total return through Friday was nearly 19%, the Dow’s gain was more than 15%, and the NASDAQ was up more than 21%.

Depressed yields

For a change, bond yields mostly held steady, with the yield of the 10-year U.S. Treasury bond hovering around 2.00%—the lowest since late 2016. Yields of 10-year government bonds in developed markets such as Germany, France, and Japan remained in negative territory.

Jobs ahead

The most closely watched economic report in the holiday-shortened week is likely to be Friday’s labor market release, which is expected to show that the pace of jobs growth in June picked up from May’s lower-than-expected figure of 75,000. On average, economists expect the economy generated around 170,000 jobs in June

Source: JHInvestments.com