By Eric
Hey moomooers, all three major U.S. stock indexes finished in positive territory in a holiday-shortened trading week.
Weekly market recap
For the week, the $Nasdaq Composite Index(.IXIC.US)$ notched a 2.6% increase, the $S&P 500 index(.SPX.US)$ added 1.14%, and the $Dow Jones Industrial Average(.DJI.US)$ gained 0.24%.
The S&P 500 eclipsed 4,000
The S&P 500 eclipsed 4,000 for the first time on Friday. It’s been a rapid rise to the 4,000 mark, as the index first breached 3,000 on July 12, 2019. It took nearly three times that long to rise from 2,000 to 3,000.
Labor market recovery
The U.S. economy generated 916,000 jobs in March—far exceeding expectations—and initial jobs gain estimates for January and February were revised upward by a total of 156,000.
Here's a look at the returns of S&P 500 sectors.
Source: jhinvestments
The week ahead in focus
Here are the most anticipated earnings releases, IPOs and economic events for the week ahead.
A handful of notable companies report results this week.
$Carnival Corp(CCL.US)$ has scheduled a conference call with analysts for Wednesday to provide a business update.
Also on Wednesday, $Advanced Micro Devices Inc(AMD.US)$ and $Xilinx Inc(XLNX.US)$ shareholders will vote on the chip designers’ proposed merger. AMD has agreed to buy Xilinx in an all-stock transaction valued at about $35 billion.
$Constellation Brands Inc(STZ.US)$ was added to the Conviction Buy List at Goldman Sachs. The shares have traded in a 52-week range of $104.28 to $240.76 and have a $251.05 consensus price target.
This wine, liquor and beer company is expected to post quarterly earnings of $1.44 per share in its upcoming report, which represents a year-over-year change of -30.1%.
Source: FT, Barron's