Friday night heights returned as the S&P 500 and Dow closed the week at all‐time highs. The Cboe Volatility Index (VIX) fell from 18.6 last week to end Friday at 16.7.
Vaccinations help economy bloom. Nearly 250 million vaccinations have been administered in the U.S. marking 43% of the U.S. population with at least one vaccine dose. Meanwhile, new U.S COVID‐19 cases are down 80% from their peak in January.
Global equities were little changed for the week with the S&P 500 essentially flat while the Nasdaq, Russell 2000, and international stocks were slightly negative.
The S&P 500 Index was just 0.13% away from making its fourth consecutive weekly record high. Trading was choppy during the week despite strong economic data and stellar earning results with more S&P 500 companies beating EPS estimates than average, and beating those EPS estimates by a wider margin than average.
For the third week and a row the S&P 500 and Dow Jones Industrial Average both closed at new record highs. Earnings and economic data continues to come in stronger‐than‐expected.