The markets look to finish the week roughly where they started, as headline news continues to drive investor behavior.

This week saw a little profit taking as valuations, in some sectors, had climbed quite high in recent weeks.

The stock market recovery, since the beginning of April, has been nothing short of miraculous.

The market held steady this week with much of the focus falling on the Democratic National Convention. To a large extent, the economic data continues to improve with sales data indicating a very strong housing market.

You might be surprised to learn that the S&P 500 is within a hair of its pre-pandemic level and the Dow Jones Industrial Average is only 1,500 points away from its prior high.

This week was consumed by earnings announcements, politics, the release of second quarter gross domestic product (GDP), and the expiration of the extended federal unemployment benefit. If you’ve been following the news, you’re probably as exhausted as I am.

The markets moved sideways this week as earnings announcements took center stage. As with the first quarter, investors are more focused on management expectations and forward guidance.

Given the current turn of events, it was a pretty good week for the stock market.

The market struggled to gain traction this week in the face of growing concerns over the rise in confirmed cases of COVID-19.

As far as quarters go, this one was for the record books. Whereas we experienced a significant drop in the first quarter of the year, we gained much of that back in the second quarter.