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Stocks endured another week of choppy trading last week, full of down days followed by up days. In total, the S&P 500® index was down 2.5 percent. This followed its 2.3 percent decline of the previous week. From its peak on September 2 the index is now lower by 6.7 percent. It is no secret that the tech sector has suffered the worst of the declines, falling 11.1 percent since the index’s peak. Communications services and energy have been battered as well, tumbling 8.2 and 7.4 percent respectively. As has been noted before, cyclical groups have fared relatively better, but no group is positive. Materials are down only 1.8 percent and industrials are down just 2.9. Utilities and financials have also held up relatively well. The Nasdaq composite has fared even worse than the S&P 500. It fell 4.1 percent last week, after falling 3.3 percent the week prior. From its September 2 peak, the index is lower by 10 percent, and the Nasdaq 100 is down 10.7 percent.

MINNEAPOLIS – September 9, 2020 – Financial advisor Eileen Holzman recently joined The Nolan Group, an established practice within the franchise channel of Ameriprise Financial (NYSE: AMP), after spending 35 years in the industry. Holzman, who joined from Royal Alliance Associates, chose Ameriprise because she was attracted to the firm’s client-first culture and strong reputation for fostering a supportive advisor community.