John Hancock: Weekly Market Recap Week Ended March 1st
A fine February
Although the S&P 500’s February gain wasn’t nearly as big as January’s 7.9% surge, it was another strong month, as the index added nearly 3.0%. The S&P 500’s cumulative two-month gain of 11.1% was the fastest early-year start for the market since 1991, according to S&P Dow Jones Indices.
Oil’s comeback
U.S. crude oil prices fell slightly for the week, but it did little to take the shine off the commodity’s year-to-date rally. Oil prices rallied around 25% over the first two months of the year—the best two-month stretch since 2016.
Standing still
Stocks wobbled between small gains and losses all week long, ending up little changed overall. The Dow lagged the other major indexes, posting a tiny decline that snapped a 9-week string of positive weekly results for that index. The NASDAQ rose, extending its positive streak to 10 weeks.
Bull market birthday
The U.S. equity bull market is about to celebrate its 10th birthday. The bull started after the S&P 500 sank to its financial crisis low point on March 9, 2009. Since then, the index has posted an annualized 17.7% total return, according to S&P Dow Jones Indices.
Source: https://wmr.jhinvestments.com