Winthrop Partners Weekly Update 7-29-19
Strong earnings reports plus a favorable gross domestic product report were enough to boost stocks last week. The S&P 500 notched a new record high last week, as did the Nasdaq. The GDP expanded at an annualized rate of 2.1% in the second quarter as consumer spending (which accounts for about two-thirds of the economy) soared. Several large companies reported strong earnings, although Amazon’s run of record earnings came to an end. The Nasdaq led the way last week, gaining over 2.25%, followed by the Russell 2000, which also increased over 2.0%. The S&P 500 rose 38.25 points and 1.65% over its prior week’s closing value. Both the Dow (0.14%) and the Global Dow (0.61%) lagged behind the other benchmark indexes listed here. Click Here for More: Winthrop Partners Weekly Update 7-29-19
Thomas Saunders is the Managing Partner of Winthrop Partners. Prior to founding Winthrop Partners, Tom was Senior Vice President at what is now JP Morgan. His career includes senior and executive roles at Brown Brothers Harriman and First Niagara Bank, a top 25 Bank. Click here to contact Thomas Saunders about your investment and planning requirements.