Weekly Market Commentary for August 16th, 2021
The Job Openings and Labor Turnover Survey (JOLTS) exceeded expectations in June, adding 590k openings from the previous month, and is now at a record high of 10.073 million openings.
Weekly Market Commentary for August 9th, 2021
The ISM Manufacturing Index came in slightly higher than analysts’ forecasts with a reading of 63.4 versus expectations of 63.1 The ISM Services Index came in above economists’ forecasts with a reading of 64.1 versus expectations of 60.5. Nonfarm Payrolls increased by 943,000 jobs in July, well ahead of the expected increase of 845,000 jobs. The unemployment rate decreased from 5.9% to 5.4% in the month of July.
Weekly Market Commentary for July 2nd, 2021
Economic Review Personal Spending was unchanged from a month prior, after an increase of 0.9% in April. Personal Income decreased -2.0% for the month of May, slightly higher than economists’ forecasts which called for a … Read More
Weekly Market Commentary for June 18th, 2021
Stocks climbed slightly Friday. The S&P reached a new record, and the NASDAQ posted its fourth winning week in a row as investors shook off a report showing the Consumer Price Index jumped 5 percent in May from a year earlier. For the week, the Dow fell 0.78 percent to close at 34,479.60. The S&P rose 0.43 percent to finish at 4,247.44, and the NASDAQ climbed 1.85 percent to end at 14,069.42.
Weekly Market Commentary for June 7th, 2021
Stocks rose Friday. The Labor Department’s May jobs report showed unemployment fell to a pandemic-era low of 5.9 percent, and new job growth was stronger than April’s but short of expectations. The mixed news appeared to assure investors the Fed would retain its accommodating money policies. For the week, the Dow rose 0.69 percent to close at 34,756.39. The S&P gained 0.64 percent to finish at 4,229.89, and the NASDAQ climbed 0.49 percent to end at 13,814.49.
Weekly Market Commentary for June 1st, 2021
Stocks climbed slightly Friday. Investors seemed to shake off a stronger-than-expected inflation reading and focus on encouraging employment data. New jobless claims fell to a new pandemic-era low. The S&P and the Dow posted their fourth positive month in a row. For the week, the Dow rose 1.03 percent to close at 34,529.45. The S&P gained 1.20 percent to finish at 4,204.11, and the NASDAQ climbed 2.08 percent to end at 13,748.74.
Weekly Market Commentary for May 24th, 2021
Wall Street closed a volatile week with stocks mixed as investors balanced inflation concerns against a strengthening economic recovery. On Thursday, the primary indices snapped a three-day losing streak after a report showed the lowest number of new weekly jobless claims since the recession in 2020. For the week, the Dow fell 0.43 percent to close at 34,207.84. The S&P lost 0.39 percent to finish at 4,155.86, and the NASDAQ climbed 0.33 percent to end the week at 13,470.99.
Weekly Market Commentary for May 17th, 2021
Stocks rebounded Friday following a steep selloff earlier in the week when investors reacted to data showing consumer prices leapt to a 13-year high in April. Despite the rebound, stocks still recorded losses for the week. For the week, the Dow fell 1.08 percent to close at 34,382.13. The S&P lost 1.35 percent to finish at 4,173.85, and the NASDAQ dropped 2.32 percent to end the week at 13,429.98.
Weekly Market Commentary for May 10th, 2021
Stocks rose to record levels Friday despite negative economic news. The Labor Department reported just 266,000 non-farm jobs were added last month, far from the 1 million forecasters expected, and the unemployment rate rose 6 percent. Bad news seemed to be good news to investors expecting the Fed to keep interest rates low. For the week, the Dow rose 2.72 percent to close at 34,777.76. The S&P gained 1.26 percent to finish at 4,232.60, and the NASDAQ dropped 1.48 percent to end at 13,752.24.
Weekly Market Commentary for May 3rd, 2021
Stocks dropped on the final trading day of the month as investors set aside concerns over rising inflation and possible future tax hikes. After closing above 4,200 on Thursday, the S&P notched its third straight month of gains. The NASDAQ finished its sixth consecutive month of gains. For the week, the Dow fell 0.50 percent to close at 33,874.85. The S&P rose 0.04 percent to finish at 4,181.17, and the NASDAQ dropped 0.38 percent to end at 13,962.68.
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