Market Recap for Week Starting 6/26

This week has seen stocks rise slightly with the major averages ending above their 6/26 open. The best performing sectors this week have been the Consumer Discretion and Retail. The Energy and Financial Sectors were lagers this week.

Market Recap Week of 6-26 | Linden Thomas and Company

Many states are continuing their re-opening despite the number of coronavirus cases slightly increasing over the past few weeks. The unemployment claims are dropping at a much higher rate than in past weeks. New jobless claims released on 7/1/2020 were 1.43 million, which was slightly higher than the 1.40 million consensus forecasts by analysts. Although there were more claims than expected, the number of claims continues to drop, as the economy continues to open.

There was plenty of optimism following this week’s release of the June jobs report. The current unemployment rate has dropped to 11.1%, due in part to the 4.8 million jobs added last month. These strong numbers were driven by the 2.1 million new jobs created in the leisure and hospitality sectors.

Interest rates increased throughout the week. Last Friday, the 10-year Treasury yield was 0.64% which increased to 0.69% on Thursday. The long-end rates increased slightly with 30-year bonds rising from 1.37 on the 26th to 1.43 on Thursday. Mortgage rates for 30-year fixed, 15-year fixed, and 5/1 ARM loans all had mild decreases in their rates.


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