ClearWater Market Commentary as of July 26, 2021
Stocks ended the week higher, rebounding from a sell-off on Monday. The advance was narrow, however, with much of the gains concentrated in technology and internet-related giants (ie. FANG stocks).
Stocks ended the week higher, rebounding from a sell-off on Monday. The advance was narrow, however, with much of the gains concentrated in technology and internet-related giants (ie. FANG stocks).
The major indexes finished lower, but the S&P 500 Index and the Nasdaq did reach new intraday highs at midweek before falling back.
The major benchmarks closed mixed, with large-caps and growth stocks outperforming for the second consecutive week.
Large-cap growth stocks lead the gains, with Technology and Health care leading the pack. Consumer discretionary stocks were also strong.
A sharp decrease in longer-term bond yields appeared to have helped push the S&P500 Index to a record high in relatively light summer week.
The major indexes closed moderately higher in a shortened trading week due to markets being closed on Monday in observance of Memorial Day.
US stocks rose and had solid gains for the week, bringing the S&P 500 to within 0.5% of the all-time high established on May 7th.
Stocks posted mixed results in a volatile week of trading, with the large cap S&P 500 ending modestly lower, and the tech-heavy Nasdaq composite gaining a little ground.
Inflation worries dragged stocks down from record highs last week. Investors confronted stark signs of higher inflation, but a late rally in the week moderated the week’s declines.
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ClearWater Market Commentary as of August 3, 2021
The major indexes were mixed for the week. The large-cap benchmarks and the technology-focused Nasdaq Composite index manage record highs before pulling back Friday to end the week with modest losses.