A Note from Cokie — While the market continues to struggle, the nation’s economy is in recovery. “This market is more akin to the emotional swings of March and April than in recent months,” says Mark Hackett, chief of investment research at Nationwide. Hackett continues by saying, “We are likely to continue in a period of directionless volatility as bulls and bears wrestle between the strong Fed liquidity and improving economic backdrop and the continued uncertainty and elevated valuations.”

The Nasdaq closed 0.6% lower at 10,853.55—it worse since March. At its session high, the composite rose as much as 1%; it was down more than 1.7% at one point as well. Apple dropped 1.3% and Amazon fell by 1.9%. Facebook, Alphabet and Microsoft were all down.

What we need to realize is that Wall Street is coming off a session in which the major averages closed sharply lower after a steep downturn in tech names. Those losses came after these stocks gave up solid gains. We’ll know more about the nation’s recovery in the coming days. Here’s an up date from Wealth Enhancement & Preservation.

The Week on Wall Street A late week sell-off sent stocks broadly lower as investors took some profits after stocks reached all-time highs earlier in the week.   The Dow Jones Industrial Average slid 1.82%, while the Standard & Poor’s 500 slumped 2.31%. The Nasdaq Composite index dropped 3.27% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, fell 0.62%.[1][2][3]