The market crash continued again this week, in earnest. There's no other news other than coronavirus related news that has decimated the markets of late. The selloff continued on Friday after NY Governor Cuomo essentially shut down New York because of how badly NY is being impacted by the virus with more than 1/2 the cases in the country right now.

All 3 major indexes were down for the week ended 2020-03-20. The Dow Jones Industrial average ended the week at 19,174 a decline of 17.3%. The broader S&P 500 index ended the week at 2,305 a decline of 15.0%. The Nasdaq 100 ended the week at 6,994 a decline of 12.5%. The average change for the major averages was down 14.93%.

The market has given back all of the gains since 2017 with significant year-to-date declines. The Big loser is the Dow Jones Industrial Average, which is down by 32.8%, the S&P is down 28.7% and the Nasdaq Composite is down 22.0% for the year. 2 things to note --> a-the Dow is significantly weighed down by Boeing, which is rumored to need to file bankrupcy, 2-the Nasdaq is being kept up by the FAANG stocks like Apple and Microsoft.

Investment Style View

If you are a dividend investor, dividend stocks declined in the last week by 17.2%, with the iShares Dividend price declining from $80.14 to $66.39.

In the latest week, large cap stocks outpaced both small cap and mid cap stocks. Large cap stocks decreased by 16.6% for the week while mid-cap stocks decreased by 19.0% and small-cap stocks decreased by 17.7%.

In order for us to monitor the performance difference between growth and value stocks, we look at the different capitalization levels (large, mid and small cap). In the latest week, there was a mixture in performance between growth and value stocks based on the capitalization of the underlying companies. Large-cap growth stocks outperformed large-cap value stocks this week -13.6% vs. -14.0%. Mid-cap growth stocks outperformed Mid-cap value stocks this week -13.8% vs. -18.4%. Small-cap growth stocks outperformed Small-cap value stocks this week -13.4% vs. -19.7%.

Sector View

None of the sectors were up last week with 7 of the sectors down double-digits for the week, this trend not only continued but EVERY sector was down double-digits this week:

Sector performance was as follows:

  • Real Estate: -25.6%
  • Energy: -20.1%
  • Financials: -19.3%
  • Industrials: -18.5%
  • Utilities: -17.2%
  • Technology: -15.2%
  • Consumer Discretionary: -14.9%
  • Materials: -14.1%
  • Communication Services: -13.2%
  • Healthcare: -12.6%
  • Consumer Staples: -11.4%


  • Earnings Roundup

    Because of everything that has been going on in the world, and in particular, in our own backyards, there was really no mention of the 300+ earnings announcements that came out this week. Some of the highlights are:

    • Baxter International. (BAX) announced earnings after the market close on 2020-03-17. Earnings came in at $0.97 the analyst consensus was $0.88, a difference of $0.09 per share. Shares closed the prior day at $71.57 a share and closed the day at $80.51 an increase of 12.5%.
    • Cintas Corporation. (CTAS) announced earnings after the market close on 2020-03-19. Earnings came in at $2.16 the analyst consensus was $2.02, a difference of $0.14 per share. Shares closed the prior day at $183.00 a share and closed the day at $175.09 a decline of -4.3%.
    • Fedex Corporation. (FDX) announced earnings after the market close on 2020-03-17. Earnings came in at $1.41 the analyst consensus was $1.49, a difference of $-0.08 per share. Shares closed the prior day at $94.96 a share and closed the day at $99.68 an increase of 5.0%.
    • General Mills, Inc. (GIS) announced earnings after the market close on 2020-03-18. Earnings came in at $0.77 the analyst consensus was $0.75, a difference of $0.02 per share. Shares closed the prior day at $59.67 a share and closed the day at $57.75 a decline of -3.2%.


    Dividend Payments

    We won't be reporting on dividends until next week due to an issue with our data provider.

    Please note: with the massive price movements this week, there is no guarantee that dividend payments will be sustained and that the estimated annual yields will continue at these levels.

    The Week Ahead

    Big Economic and other data {or big events} being reported this week are:

    • Monday:
    • Tuesday: the Census Bureau reports on new residential home sales for February, estimated at 740K homes as compared to January's 764K rate.
    • Wednesday: the Census Bureau reports on durable goods for February, estimated to be down 0.3% after a 0.2% decliine in January.
    • Thursday: the Labor Department will report on initial jobless claims. There will likely be a significant record posted this past week in the wake of all of the closures due to the virus.
    • Friday:

    The earnings continue this week with the following companies reporting earnings:

    • Monday:
    • Tuesday: Grocery Outlet, Nike
    • Wednesday: Micron Technology, Paychex
    • Thursday: GameStop, Lululemon Athletica
    • Friday:

    Please note: with all of the closures that have been occuring over the last day or two some of these announcements may or may not be delayed or postponed. We have no insight into this.


    Authors Note: Please note, the writer currently owns no individual stocks.

    About the Writer

    This page was created and is maintained by Kurt Tietjen, Founder of Stavera, High Peak Media & HomeGearWorks.com. Kurt is an executive, data scientist and software engineer who holds an MBA in Management Information Systems. In 2010, he partnered with scientists at Northwestern University to launch The Street Wire. This was one of the first mainstream uses of what would become “Narrative Science”, an artificial intelligence platform specializing in natural language generation. You can contact Kurt on LinkedIn here.