BlackRock's Weekly Investment Commentary from Bob Doll, Vice Chairman and Chief Equity Strategist for the week of July 26, 2010.
US equities posted positive results last week as uncertainty continued to ease in the markets. Funding conditions in the euro’s non-core countries have improved, activity out of the European economies has been better than expected, US earnings reports have been strong and we have seen the passage of the European bank stress tests. Overall, the Dow Jones Industrial Average gained 3.24% last week to close at 10,425, the S&P 500 Index advanced 3.55% to 1,103 and the Nasdaq Composite rose 4.15% to 2,269. Factoring in these results, US equity markets extended their gains for the month of July to more than 7%.
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