New York, NY (PRWEB) April 08, 2013
John Thomas Financials Chief Market Analyst Wayne S. Kaufman Weekly Report
Stocks had a rough week in spite of the S&P 500 making a new high on Tuesday as investors reacted to more worse than expected economic indicators. In this case it was employment news from ADP Wednesday, followed by Jobless Claims Thursday, and Payrolls on Friday. Soft economic news began being reported in mid- March, and investors are concerned that this has become a trend. Last week’s selling was broad based with all major indexes showing losses. The downside was led by the Dow Transports, with a loss on the week of 3.48%, followed by S&P Midcaps, down 2.58%, and S&P Smallcaps, down 2.38%. The S&P 500 lost 1.01% as large caps continued their recent outperformance.
Industry groups were mostly lower with only eight of the twenty-four S&P industry up last week. The leaders were Telecom Services, up 2.40%, and Real Estate, up 2.31%. The downside was led by Automobiles & Components, down 5.19%, Semiconductors & Equipment, down 4.26%, and Technology Hardware & Equipment, down 3.52%.
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I, Wayne S. Kaufman, hereby certify that all of the views expressed in this research report accurately reflect my personal views about any and all of the subject issuer(s) or securities. I also certify that no part of my compensation was, is, or will be directly or indirectly related to the specific recommendation(s) or view(s) in this report.
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