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.
This time last year, we were all forced to make drastic changes to our everyday lives — working from home, acting as educators to our children and grandchildren, and settling in for the unknown long-term. Fortunately, there is finally optimism and a shred of pre-pandemic normalcy.
With the tax filing deadline around the corner, many individuals might be wondering what they are going to spend their refund on. A more important question might be, “How much can I save?” With the COVID-19 pandemic continuing on, many companies have had to lay off or furlough employees with countless more experiencing reduced hours. While it might seem like a good time to splurge, we learned in 2020 that you can never be too prepared for the future.
The S&P 500 and Dow Jones Industrial Average both ended the week at set new record highs. The gains came as markets got more hotter‐than‐expected data on producer price inflation, and as Treasuries saw some pressure, with yields paring back from recent highs.
March by the numbers. U.S. stocks were up nicely in in March. The headline S&P 500 index returned + 4.4% (with dividends), its fourth positive month in the last five. All 11 sectors posted positive results, led by Energy (+29.3%). Large Value topped equity styles with a +5.9% gain following +6.0% last month.
The S&P 500 continued to set new record highs, this time above the 4,000 level for the first time to start the second quarter. Technology stocks sustained their renewed strength and led the Nasdaq and growth indices to the top of the charts over the holiday‐shortened week.
The S&P 500 closed the week at a new all‐time high after a shaky start to the week. Like last week though, technology and small cap stocks fell, with the Nasdaq Composite down ‐0.6% and the Russell 2000 down ‐2.9%.