Friday’s session was nothing to write home about (nor was this whole week for the most part), but the quarter was a different story. Bolstered by a fantastic earnings season and an all-around great economy, each of the major indices put together impressive gains over the past three months.
Even though it usually takes the brunt of negative trade headlines, the nevertheless persevered in the third quarter and jumped approximately 9%. Quite recently, it reached new all-time highs as well. Today, it was up 0.07% to 26,458.31, finishing the week lower by about 1%.
The S&P had one of its best quarters in years with a gain of 7.2%. On Friday, the index was nearly breakeven at 2913.98, marking a weekly decline of about 0.5%.
The NASDAQ has been plotting a different course than its counterparts in recent weeks as tech has come under pressure at certain points. It advanced 0.05% on Friday to 8046.35 and was the only major index in the green for the week with a 0.74% increase. Fortunately, one aspect where it didn’t differ from the others was its third quarter performance, as it too reported a nice advance of 7.1%.
And what about that “scaaaary” month of September? It didn’t quite live up to its reputation. The Dow rose 1.9% this month and the S&P increased 0.43%, though the NASDAQ again went its own way and slipped 0.78%.
So we head into the homestretch of 2018 with trade still very much on the market’s mind. Those 10% tariffs that were just implemented on China will jump to 25% if there’s no progress by the end of the fourth quarter…and so far there isn’t much progress on that front as possible talks were recently cancelled. And the U.S. is still trying to get Canada to join their NAFTA-like agreement with Mexico,