Since the World Health Organization declared COVID-19 a pandemic March 11, the U.S. has suffered more than 100,000 deaths from the deadly virus, the economy was shuttered and then slowly reopened, and the investing markets produced record volatility…
U.S. stocks hit their peak the previous month, with the Dow Jones Industrial Average registering an all-time closing high Feb. 12, and the S&P 500 Index and Nasdaq Composite Index following suit Feb. 19.
June 19 will mark 100 days since the WHO’s declaration. Since March 10, a day earlier, the Dow Jones Industrial Average US:DJIA rose 4.4% through the close June 17. The S&P 500 US:SPX has risen 8%, and the Nasdaq US:COMP has soared 18.8%. (Price changes in this article exclude dividends.)
Among the 11 sectors of the S&P 500, information technology has been the clear winner during the pandemic:
|S&P 500 SECTOR||PRICE CHANGE – MARCH 10 THROUGH JUNE 17||PRICE CHANGE – 2020||PRICE CHANGE – 2019|
Oil’s big bounce
The good showing for the energy sector since the March 10 pandemic declaration reflects the partial recovery of oil prices as the U.S. economy has begun to reopen. The oil recovery has been helped by OPEC+ producers’ agreement June 6 to extend production cuts until the end of July.
Here’s a chart showing continuous quotes for West Texas crude oil US:CL00 during 2020:
The continuous quoted WTI price declined 2% on Wednesday to $37.76, which was 10% higher than the price of $34.36 on March 10. However, the quote was still down 38% from the end of 2019.
Dow Jones Industrial Average
Here’s how all 30 components of the Dow Jones Industrial Average have performed since the World Health Organization declared COVID-19 a pandemic…
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