PAS Weekly Commentary

Dow Jones Industrial Average Closes Week & Month with a New Record

The Labor Day weekend has arrived.

The stock market put in a lot of work this week, thinking about and reacting to NVIDIA's (NVDA) earnings report, thinking about and reacting to the July Personal Income and Spending Report, thinking about and reacting to results from leading retailers and other high-profile technology companies, and, well, thinking about weekend plans.

It all culminated with the indices closing the week mixed and looking up at the Dow Jones Industrial Average, which settled the week and month at a new record high.

A summation of this week's market action is below.

  • S&P 500: +0.2% for the week.... +18.4% YTD
  • Nasdaq Composite: ‐0.9% for the week... +18.0% YTD
  • S&P Midcap 400: ‐0.1% for the week... +11.1% YTD
  • Dow Jones Industrial Average: +0.9% for the week... +10.3% YTD
  • Russell 2000: ‐0.05% for the week... +9.4% YTD

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Past performance is not a guarantee of future results. Indices are unmanaged and one cannot invest directly in an index. Diversification does not guarantee investment returns and does not eliminate the risk of loss.

Data and rates used were indicative of market conditions as of the date shown and compiled by Briefing.com. Opinions, estimates, forecasts, and statements of financial market trends are based on current market conditions and are subject to change without notice. References to specific securities, asset classes and financial markets are for illustrative purposes only and do not constitute a solicitation, offer, or recommendation to purchase or sell a security. S&P 500 Index is a market index generally considered representative of the stock market as a whole. The index focuses on the large-cap segment of the U.S. equities market. Each company’s security affects the index in proportion to its market value. NASDAQ Composite Index is a market value-weighted index that measures all NASDAQ domestic and non-U.S. based common stocks listed on the NASDAQ stock market. Dow Jones Industrial Average is a widely used indicator of the overall condition of the stock market, a price-weighted average of 30 actively traded blue chip stocks, primarily industrials, but also includes financial, leisure and other service-oriented firms. Russell 2000 Index measures the performance of the smallest 2,000 companies in the Russell 3000 Index of the 3,000 largest U.S. companies in terms of market capitalization. MSCI Emerging Markets Index is a free float-adjusted market capitalization index that is designed to measure equity market performance of emerging markets.

Park Avenue Securities LLC (PAS) is a wholly owned subsidiary of The Guardian Life Insurance Company of America (Guardian). PAS is a registered broker/dealer offering competitive investment products, as well as a registered investment advisor offering financial planning and investment advisory services. PAS is a member of FINRA and SIPC.

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6974283.1 (Exp. 12/24)

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