Equities showed strength over the past week with the S&P 500 climbing to new highs for 2016. However, the weekly market performance continues to be choppy as indicated by five weeks in a row of alternating positive and negative performance.
The past week kicked off the start of earnings season for the first quarter. While only about five percent of S&P 500 corporations have reported, early results have been solid. Of the 24 companies that reported so far, 79% reported earnings that exceeded expectations versus 21% reporting earnings that fell below expectations. The S&P 500 opened Monday at 2050.23 and closed on Friday at 2080.73, up 30.50 or 1.49%.