Savings and investments may be the last thing on your mind as you enjoy our all-too-short summer. We can’t blame you! We hope you and your loved ones are safe and secure and can truly enjoy the warm days ahead.
Stocks built on the previous week’s gains, helped by some strong economic signals and positive earnings surprises.
Most of the major benchmarks recorded gains, with the S&P 500 Index recovering a portion of the previous week’s losses.
A Friday rally moderated the losses, but the large-cap benchmarks and Nasdaq Composite index recorded their biggest weekly drops since February and rounded out the worst monthly declines since the onset of the pandemic, seemingly weighed down by inflation and interest rate fears.
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ClearWater Market Commentary as of October 22nd, 2021
All the main indices moved to record highs, seemingly helped by a series of positive earnings surprises. Further reflecting the strong investor sentiment.