4 Question Stock Market Quiz!

ROBARE & JONES ON THE MARKETS

 
     The S&P 500 rose 2.7% this week to a new closing high as the energy and financial sectors led the way, whipping out last week's tumble. Every sector of the market managed to have a positive week with utilities edging a 0.7% gain also. This now has the market up 14% for the year to date.

The energy sector's jump came as crude oil futures rose amid a report showing US oil inventories fell by 7.6 million barrels last week to their lowest level since March 2020, while gasoline inventories also dropped. The price of oil also managed to hit over $74/barrel which has been a $111 price increase in oil over the last 15 months.

The financial sector was boosted by a report from the Federal Reserve Board saying all 23 large banks remained "well above" risk-based minimum capital requirements in its annual stress test results.

The rally came as investors grew more comfortable with the Federal Reserve's warnings last week that it may raise rates by late 2023, which is sooner than previously anticipated. There were also many sectors that took a positive reaction to the $1 trillion infrastructure plan proposed by the current administration.

Next week, the biggest focus of the week among economic data will be the June nonfarm payrolls and unemployment rate due Friday, the ADP employment report on the private sector on Wednesday, and the Labor Department's weekly jobless claims on Thursday.

Let's take a look at the sectors from this past week!

4 Question Stock Market Quiz!

1. Where's the oldest stock exchange in the world?
    
         Answer: Antwerp, Blegium
    
         The Antwerp Bourse opened its doors in 1460 and kept going until 1997.
    
    
     
2. Where was the first stock exchange in the United States?
    
         Answer: Philadelphia, PA
    
         New York is where all the action is today, of course, but the Philadelphia Stock Exchange, founded in 1790, predated it by two years.
    
    
     
3. The founders of the New York Stock Exchange took inspiration from which country's stock market?
    
         Answer: Spain
    
         The value of the dollar had been based on the Spanish real, so the NYSE founders looked to Spain for inspiration for their stock market, too. Long story, but the Spanish real is also the reason for all the fractional stock prices in the NYSE.
    
     
4. What was the first listed company on the NYSE?
    
         Answer: Bank of New York
    
         Share of the Bank of New York were traded under the fabled buttonwood tree on Wall Street in 1792
     

  What's your history with the stock markets?