Weekly Market Recap

Weekly Market Recap – October 8, 2021

The news that shaped Wall Street’s mood for the week was that Senate minority leader McConnell, on Wednesday, without making any demands, offered Democrats an emergency short-term extension to the Federal debt ceiling into December. The transition to the closing months of 2021 is marked by higher gas prices at the pump. …

Weekly Market Recap – October 1, 2021

Economic statistics reported during the week, compared with prior released data, were as follows: durable goods orders +1.8% vs. +0.5%, core capital goods +0.5% vs. +0.3%, consumer confidence index 109.3 vs. 114.2, personal income +0.2% vs. +1.1%, consumer spending +0.8% vs. -0.1%, construction spending 0.0% vs. +0.3%, consumer sentiment index 72.8 vs. …

Weekly Market Recap – September 24, 2021

Monday saw the biggest drop in the stock market since May. The waves of selling were in response to reports from rating agencies that “default appears probable” for Chinese property giant Evergrande, which is saddled with $300 billion in debt. Another source of pressure on the markets was referenced to Treasury Secretary …

Weekly Market Recap – September 17, 2021

The annual data released Tuesday by the U.S Census Bureau underscored the economic impact of the pandemic last year. The median inflation-adjusted household income for 2020 fell 2.9% to $67,521, according to the bureau. The official poverty rate rose one percentage point to 11.4%, however, the report included a supplemental poverty rate …

Weekly Market Recap – September 10, 2021

The current Fed “Beige Book” report focuses on the economic pullback in July and August, attributing it to the resurgence of COVID-19 cases, persistent supply chain problems, and companies struggling to fill positions. According to the Fed’s comments, the most impacted expenditures have been for eating out, travel and tourism. The Beige …

Weekly Market Recap – September 3, 2021

After pummeling Louisiana and leaving a million customers without electric power, the remnants of Hurricane Ida moved into the northeast causing historic rainfall and flooding, along with at least 50 deaths. Because Ida’s aftermath has severely impacted the energy infrastructure, with 80% of Gulf oil production offline, the Department of Energy is …

Weekly Market Recap – August 27, 2021

 
According to a CDC report on Friday, 1,200 coronavirus deaths occurred in the U.S. in a 24-hour period, a fatality rate not seen since early March. At our press time for this end-of-week report, Hurricane Ida, the ninth named storm of 2021 was on track to make landfall in Louisiana as …

Weekly Market Recap – August 20, 2021

 
News headlines this week covered familiar topics. In Afghanistan, the Taliban took control of the country. The U.S. evacuation mission continues, and the EU is bracing for waves of Afghani refugees in the months to come. On the weather front, hurricane season is now ramping up. On Monday, tropical storm Fred …

Weekly Market Recap – August 13, 2021

 
The Senate passed the $3.5 trillion blueprint of President Biden’s infrastructure plan. The U.S. began staging troop deployment for an evacuation mission in response to the Taliban insurgency against the Afghan government. Eight U.S. states now account for 51% of the nation’s coronavirus hospitalizations: Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi, Nevada …

Weekly Market Recap – August 6, 2021

 
Nationwide, the Delta variant has now driven the coronavirus new case rate to over 100,000 per day, the highest since November 2020; incentives are now being offered to encourage vaccinations. 50% of the U.S. population is now fully vaccinated. California’s 463,000-acre Dixie wildfire has grown to be the 2nd largest in …

Weekly Market Recap – July 30, 2021

 
2021’s second-quarter growth was reported at 6.5%, as measured by gross domestic product. This slight increase from the Q1 GDP of 6.3% takes the U.S. economy above its pre-pandemic level. Weekly Initial jobless claims dropped to 400,000 vs. 424,000. Monthly June statistics, compared with May, were as follows: New home sales …

Weekly Market Recap – July 23, 2021

OPEC Plus, the group of 23 oil-producing countries, reached a deal to raise crude output. The barrels added to global supply amount to a production increase of about 2% by the end of the year. Wildfires continue to rage in western North America. In Southern Oregon, the Bootleg fire has burned over …

Weekly Market Recap – July 16, 2021

COVID-19 cases are rising in all fifty U.S. states; Los Angeles reinstated its indoor mask mandate. Wildfires are raging throughout western North America, which is in its fourth consecutive heatwave. Nevada’s Lake Meade, the nation’s largest reservoir, has dropped to the lowest level ever recorded since the construction of Hoover Dam created …

Weekly Market Recap – July 9, 2021

Thirty-two million Americans are under excessive heat alerts, due to the high-pressure dome causing record temperatures in seven states in the West. California has ordered power and water preservation measures. The COVID-19 global death toll has passed 4 million. In the U.S., a spike in outbreaks is being attributed to the Delta …

Weekly Market Recap – July 2, 2021

On Thursday, a five-year $715 billion infrastructure bill was passed by the House. In the Pacific Northwest, heat-related deaths climbed into the hundreds. On Friday, tropical storm Elsa barreled into the Caribbean. The coronavirus Delta variant has now been detected in all 50 states.
The following economic statistics were released during the …

Weekly Market Recap – June 25, 2021

Initial jobless claims fell by only 7,000, as the weekly tally came in at 411,000 on Thursday; 418,000 new claims were filed the previous week. New home sales were 769,000 in May, compared to 817,000 in April. Existing home sales were 5.80 million, a small change from April’s 5.85 million. Durable goods …

Weekly Market Recap – June 18, 2021

The week had a number of economic reports. An unexpected statistic was the initial jobless claim tally, which had its first uptick in eight weeks: 412,000 claims compared with the previous 375,000. May retail sales declined 1.3% (vs. +0.9% in April), industrial production was +0.8% (vs. +0.1%), capacity utilization is at 75.2% …

Weekly Market Recap – June 11, 2021

The word “Inflation” appeared frequently in Thursday’s financial press, after the May Consumer Price Index was released, showing a 5.0% surge from a year ago, the highest rate since 2008. The month-to-month CPI was +0.6% vs. the 0.8% rise in April. Other economic statistics, compared with their prior levels were as follows: …

Weekly Market Recap – June 4, 2021

The weekly initial jobless tally was 385,000 new claims vs. the previous 405,000. Nonfarm payrolls showed a 559,000 increase; Wall Street had predicted 671,000. The unemployment rate is now 5.8% vs. 6.1% a month ago. Some analysts attributed the uptick in the labor market to more Americans getting vaccinated, and the easing …

Weekly Market Recap – May 28, 2021

Initial jobless claims fell to 406,000 vs. the previous week’s 444,000. Other economic statistics, compared to their prior levels, were as follows: the consumer confidence index was 117.2 vs. 117.5, and durable goods orders for April were down 1.3%, reversing the 1.3% rise in March. Personal income for April dropped 13.1%, which …

Weekly Market Recap – May 21, 2021

Weekly initial jobless claims sank to the lowest level since March 21, 2020, when 2.9 million first-time filings were tallied. Thursday’s report was 444,000 claims filed. Other key statistics, compared with their prior levels, were as follows: housing starts for April were 1.57 million (vs. 1.73 million), April’s existing-home sales figure was …

Weekly Market Recap – May 14, 2021

The number of Americans seeking unemployment benefits dropped again: 473,000 initial jobless claims were filed, compared with 507,000 the previous week. The federal budget for April showed a $226 billion deficit vs. $738 billion in March. Other economic statistics, compared with their prior level were as follows: April retail sales had 0.0% …

Weekly Market Recap – May 7, 2021

The week’s U.S. economic news was dominated by employment statistics. Despite the weekly drop in initial jobless claims to 498,000 (the lowest since the pandemic began), the overall measurement of job growth was less than analysts had expected. Nonfarm payrolls showed a 266,000 increase; Wall Street had predicted 1 million. The unexpected …

Weekly Market Recap – April 30, 2021

Economic statistics, compared to their prior levels, were as follows: durable goods orders for March were up 0.5% vs. February’s 0.9% drop, March core capital goods orders were 0.9% higher, an improvement over the previous month’s decrease of 0.8%, the Case-Shiller National Home Price Index for February gained 12.0% (year-over-year), compared with …