The big story last week was the sudden grounding of Boeing 737 Max 8 and 9 passenger jets in dozens of countries. The financial effects of this ban could potentially impact the airline industry and segments of the economy for months.¹

While the news created a headwind for the Dow Industrials, stocks managed to post solid gains for the week. The Nasdaq Composite rose 3.12%; the S&P 500, 2.46%; the Dow, 2.25%.^2,3,4

Bullish sentiment was also evident overseas. Looking at the MSCI EAFE index, international stocks advanced 1.93%.⁵

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1 – cnbc.com/2019/03/13/boeing-shares-fall-after-report-says-us-expected-to-ground-737-max-fleet.html [3/13/19]
2 – quotes.wsj.com/index/SPX [3/15/19]
3 – quotes.wsj.com/index/DJIA [3/15/19]
4 – quotes.wsj.com/index/NASDAQ [3/15/19]
5 – quotes.wsj.com/index/XX/990300/historical-prices [3/15/19]

As in February, investors spent most of the first full trading week of March hoping for new details in U.S.-China trade negotiations. While they waited, stock benchmarks drifted downward. From Monday’s open to Friday’s close, the S&P 500 lost 2.55%, while the Dow Industrials took a 2.66% fall, and the Nasdaq Composite weakened 3.12%. The MSCI EAFE index tracking developed markets outside the U.S. and Canada fell 1.09%.^1,2,3,4

Why did stocks lose momentum? In a hint that global economic growth might be slowing, the European Central Bank abruptly reduced its 2019 Gross Domestic Product forecast for the eurozone from 1.7% to 1.1%. A disappointing reading on U.S. hiring also raised questions.⁵

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1 – quotes.wsj.com/index/SPX [3/8/19]
2 – quotes.wsj.com/index/DJIA [3/8/19]
3 – quotes.wsj.com/index/NASDAQ [3/8/19]
4 – quotes.wsj.com/index/XX/990300/historical-prices [3/8/19]
5 – cnbc.com/2019/03/07/stock-market-us-china-trade-jobless-claims-in-focus.html [3/7/19]

Stocks lost a little ground as February gave way to March. While domestic and overseas political developments made headlines, the market stayed relatively calm: from Monday’s open through Friday’s close, the S&P 500 ceded but 0.17%, finishing the week at 2,803.69.¹

The Dow declined 0.65% in five trading sessions to 26,026.32, while the Nasdaq finished the week 0.06% higher at 7,595.35. The MSCI EAFE index of international stocks rose 0.24% for the week.^2,3,4

Volatility has dropped in the past few weeks. Wall Street has grown less anxious about the possibility of new tariffs and higher interest rates this year.

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1 – quotes.wsj.com/index/SPX [3/1/19]
2 – quotes.wsj.com/index/DJIA [3/1/19]
3 – quotes.wsj.com/index/NASDAQ [3/1/19]
4 – quotes.wsj.com/index/XX/990300/historical-prices [3/1/19]

Stocks rallied last week as optimism about a potential U.S.-China trade deal grew. The S&P 500 advanced 0.80% for the week to 2,792.67. The Nasdaq Composite improved 0.86% to 7,527.54, and the Dow Jones Industrial Average gained 0.64% to 26,031.81.

The renewed prospects for a trade pact were not the only development investors found appealing last week. There were indications that the Federal Reserve might be a bit less committed to its plans to raise interest rates further this year.^1,2

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1 – markets.wsj.com [2/15/19]
2 – quotes.wsj.com/index/SPX [2/15/19]

Stocks ended a good week on a high note, as hints of progress in U.S.-China trade talks encouraged investors.

When the closing bell rang Friday, the S&P 500 settled at 2,775.60, after rising 2.50% in five days. The Dow Industrials gained 3.09% to close Friday at 25,883.25. The Nasdaq Composite improved 2.39% to 7,472.41.^1,2

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1 – markets.wsj.com [2/15/19]
2 – quotes.wsj.com/index/SPX [2/15/19]