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The Weekly Update
Week of May 24th, 2021
By Christopher T. Much, CFP®, AIF®
Stock prices fluctuated amid inflation concerns and bargain hunting, leaving stocks mixed for the week.
The Dow Jones Industrial Average slipped 0.51%, while the Standard & Poor’s 500 dropped 0.43%. The tech-heavy Nasdaq Composite index advanced 0.31%. The MSCI EAFE index, which tracks developed overseas stock markets, gained 0.67%.
Lots of Motion, Little Movement
Stocks began last week extending their losses from the previous week, as the slide in technology and other high-growth stocks resumed. Inflation worries also weighed on the market.
After steep declines in early Wednesday trading, market sentiment took a more positive turn, allowing stocks to pare their losses as the session came to a close, despite news that the Fed could be contemplating tapering its monthly bond purchases.
This positive momentum continued into Thursday, aided by a declining initial jobless claims number and a strong rebound in technology. …
The Weekly Update
Week of May 17th, 2021
By Christopher T. Much, CFP®, AIF®
A surge in consumer inflation unsettled investors, leading to a turbulent week of trading on Wall Street.
The Dow Jones Industrial Average slipped 1.14%, while the Standard & Poor’s 500 fell 1.39%. The Nasdaq Composite index dropped 2.34% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, lost 3.02%.
Inflation Concerns
The market has been troubled recently by building inflationary pressures. Investors are concerned that rising prices may hurt corporate profits and force the Fed to tighten its monetary policy sooner than anticipated. Worse, investors fear the Fed may have to react more aggressively if it waits too long to act.
After back-to-back losses, the retreat in stock prices culminated on Wednesday, following the release of the higher-than-anticipated Consumer Price Index (CPI) report.
Stocks managed to claw back some of the week’s losses with a Thursday-Friday rebound, sparked …
The Weekly Update
Week of May 10th, 2021
By Christopher T. Much, CFP®, AIF®
Stocks closed mixed last week as signs of continued economic recovery and upbeat earnings helped some sectors while the struggles persisted for high-growth companies.
The Dow Jones Industrial Average gained 2.67%, while the Standard & Poor’s 500 rose 1.23%. But the Nasdaq Composite index, home for many high-growth companies, lost 1.51%. The MSCI EAFE index, which tracks developed overseas stock markets, advanced 1.20%.
Mixed Market
Energy, financials, materials, and industrials led the market higher on more upbeat news regarding the economic recovery.
But technology and other high-valuation companies didn’t participate in the rally, weighed down by Treasury Secretary Janet Yellen’s comments that interest rates may need to rise. Despite a decline in long bond yields, high growth stocks were under selling pressure for most of the week.
On Friday, a miss on April employment numbers seemed to dial back fears that the …
The Weekly Update
Week of May 3rd, 2021
By Christopher T. Much, CFP®, AIF®
Stocks meandered around a flatline in a busy week of corporate earnings, ending the trading week slightly lower.
The Dow Jones Industrial Average slid 0.50%, while the Standard & Poor’s 500 was flat (+0.02%). The Nasdaq Composite index surrendered 0.39%. The MSCI EAFE index, which tracks developed overseas stock markets, rose 0.18%.
Seeking Direction
Though the S&P 500 and Nasdaq established new record highs at the start of the week, stocks struggled to find traction as the week wore on.
Investor sentiment was dampened by rising COVID-19 infections in India and Japan, along with mounting inflation worries. Stocks finally caught some lift from strong quarterly reports issued by two big technology companies and an upbeat first-quarter Gross Domestic Product growth number, sending the S&P 500 to a fresh record high.
Once again, though, stocks failed to follow through, as the market retreated …
