The S&P 500 added 0.7% this week while the Nasdaq continued its show of strength, rallying 2.7%. The Dow underperformed, ending the week unchanged.
There was some focus on trade‐related headlines over the course of the week after the August 15 meeting between officials from China and the U.S. did not materialize. An official from China’s commerce ministry said on Thursday that representatives from the two sides will talk “in the coming days.” On a related note, the U.S. took more steps to restrict Huawei’s access to components and there was more pressure on ByteDance to sell TikTok.
Meanwhile, lawmakers in Washington made no progress on the next fiscal stimulus while House Speaker Nancy Pelosi said that she opposes a smaller package.
Concerns about delayed trade and stimulus talks barely registered with the stock market, allowing the S&P 500 and the Nasdaq to finish the week at new record highs.
Five out of eleven sectors ended the week with losses between 1.3% (materials) and 6.1% (energy) while communication services (+1.7%), consumer discretionary (+2.4%), and technology (+3.5%) ended the week in positive territory.
Apple (AAPL) jumped 8.2% during the week, recording its fourth consecutive weekly advance.
Upcoming Webinar
Taking Care: Planning For the Future of Children with Special Needs
12 – 1 pm ET, Thursday, August 27
One in five working adult caregivers are caring for a child with special health care needs. Parents who balance their work with caregiving for a child with special needs are more likely to experience stress at their jobs and at home — and the COVID-19 pandemic has increased the pressure of this balancing act.* While it can be hard to plan for the future during periods of stress or uncertainty, now is the perfect time to reevaluate your plans and make sure you and your child are prepared.
Join us for this panel discussion with caregiving experts to discuss lessons learned caring for children with special health care needs, the impact of COVID-19 on caregivers and strategies to adapt, what resources are available now, and how to plan for the future of your child with special needs and achieve financial confidence.
Submit your questions when you register. And, even if you can’t attend the live event, register and you’ll receive a link to the on-demand replay within hours of the webinar concluding.
*Workforce 2020 report from Guardian’s 8th Annual Workplace Benefits study.