Losing Streak is Over
Bradley Goldhar - Jun 06, 2022
You have to go back nearly 100 years to 1923 for the last time the Dow Jones Industrial Average dropped eight weeks in a row.
Weekly "Focus" and the Losing Streak is Over
You have to go back nearly 100 years to 1923 for the last time the Dow Jones Industrial Average dropped eight weeks in a row. Thankfully the consecutive losing streak is finally over as the index reversed course and rose 6.2% this week ahead of Monday’s US Memorial Day holiday (ii). The weekly gain in the Canadian market was more muted with the S&P/TSX Composite Index rising 2.7% (ii). The market’s recovery this week could reflect investors starting to find value in shares of companies that have been oversold. Several major US companies were founded back in 1923 and they will hit the century mark next year.
| Company | Industry | Return in 2022 | Dividend Yield |
| Hasbro* (HAS) | Toys | -14.5% | 3.2% |
| Textron (TXT) | Industrial | -14.4% | 0.1% |
| Walt Disney* (DIS) | Entertainment | -29.4% | 0.0% |
This week’s "Focus" from our economics team is attached.
Have a great weekend and please stay safe,
Brad
Bradley Goldhar | Senior Portfolio Manager and Senior Investment Advisor
BMO Nesbitt Burns Inc. | 1 First Canadian Place | 39th Floor | P.O. Box 150 | Toronto ON M5X 1H3 416.359.6650 (direct) | 416.359.7219 (fax) | 1-800-263-1883 (toll free)
bradley.goldhar@nbpcd.com
www.goldhargroup.com
Source:
(i) ThomsonOne
(ii) Standard & Poor’s
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