“Equities bounced back last week despite surging covid-19 cases in many parts of the world.”
Last week was a challenging one for most risk assets, as investors recalibrated their global growth expectations in the face of the rapidly spreading delta variant of SARS-CoV-2. In the US, large cap stocks were mostly lower, with only traditional defensives like utilities (+2.6%) , staples (+1.3%), and real estate (+0.7%) registering small gains. Cyclicals […]
Bit of a mixed bag last week, as most US large caps finished higher (exceptions included financials and energy), while small/midcaps and international stocks pulled back a bit. Bond markets rallied and commodities were slightly lower as concerns lingered regarding the delta variant’s impact on global growth. Meanwhile, the US labor market continues to improve, with lots of jobs available while new and continuing jobless claims edge lower week by week.
Last week’s biggest headline was consumer price inflation (CPI) which registered +5.0% y/y in May, the first “five-handle” US inflation print in nearly 13 years. Under the covers, however, the report was less alarming. Core CPI, which strips out volatile food and energy prices, was just +3.8% y/y. Moreover, more than half of the total […]
Risk assets of all stripes were higher last week, as US economic data continued to point towards a strong recovery while inflation fears eased a bit. Technology and cyclical stocks saw the strongest demand, while investors pared back their exposure to traditional defensives like real estate, consumer staples, and healthcare. International stocks were higher, with […]
“Forward-looking economic news was positive…”
“…on Friday, equities of all stripes got a boost when the US Nonfarm Payroll Report came in significantly below expectations, calming inflation fears…”
US large cap stocks were strong last week, with all sectors in the S&P 500posting positive returns except for energy. The Dow (33,801) and S&P (4,129) both closed at record highs on Friday, while the Nasdaq remains slightly below its high from mid-February. Results were mixed in other segments of the market, with US midcaps […]
Equities posted solid returns last week, led by large cap technology stocks. The S&P 500 reached a new all-time high on Thursday, closing above 4,000 for the first time.
Equity markets rallied last week, particularly after Wednesday’s release of consumer price inflation (CPI) data that was slightly below consensus estimates. The S&P 500 and the Dow both finished the week at fresh all-time highs, while the Nasdaq remains ~5% below its mid-February record. Small and midcap stocks continued their run of dominant performance, extending […]