New York, NY (PRWEB) April 22, 2013
John Thomas Financials Chief Market Analyst Wayne S. Kaufman's Weekly Report is posted on the John Thomas Financial Blog.
After making all-time highs two weeks ago stocks took it on the chin last week as the S&P 500 erased nearly all the gains of the prior week. It dropped 2.11%, the biggest weekly loss since 11/9/2012. Major indexes were led on the week by the Dow Jones Transports, down 1.78%, and the Bank of NY Mellon ADR Index, down 2.01%. The biggest losses were seen in the Russell 2000, down 3.21%, and the Nasdaq Composite, down 2.70%. Seven of the ten S&P sectors traded lower last week, with the defensive Telecom Services, Utilities, and Consumer Staples sectors posting gains of 1.18%, 1.02%, and 0.76%, respectively
Only five of the 24 S&P industry groups were up last week. The leaders were Household & Personal Services, up 1.96%, Telecom Services, up 1.18%, and Utilities, up 1.02%. The downside was led by Technology Hardware & Equipment (thanks Apple & IBM) down 6.99%, Capital Goods, down 4.11%, Energy, down 4.09%, and Automobiles & Components, down 4.06%.
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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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John Thomas Financial, a member of FINRA and SIPC, is an independent broker-dealer and investment banking firm headquartered in New York City's Wall Street district. Emphasizing a client-centric approach to managing all aspects of its business, John Thomas Financial and its affiliates offer a full complement of retail brokerage, private wealth management, and corporate advisory services tailored to the unique needs of its clients. The firm publishes the Fiscal Liquidity Index, a unique daily indicator that looks at government spending and its impact on the financial markets, The Kaufman Report, a weekly technical stock market analysis, and The John Thomas Financial Economic Outlook, a report analyzing consumer sentiment, market outlook, credit cycles and dozens of other market influences.
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