Weekly Market Snapshot – January 6th, 2020
Created by: Sam Tenney
- Major indices closed out 2019 with the largest gains since 2013. The S&P 500 gained 31.84%, The Dow Jones Industrial gained 25.81%, and the NASDAQ gained 35.74%.¹
- US Purchasing Managers Index (PMI) contracts at its fastest rate since 2009, dropping 0.9% to 47.2% for December. A PMI reading under 50 represents a contraction.²
- The Federal Reserve has identified nine US state economies it expects to slide into contraction in 2020. This is expected to be the largest number of states in a contractionary period since 2009.³
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