AAM Weekly Market Wrap – April 12, 2021

Weekly Market Wrap: The S&P gained for the 5th time in the last 6 weeks as optimism over vaccinations and the re-opening of the economy continued to push stocks higher.

For The Week

  • The S&P 500 gained 2.71% to 4,128.80
  • Oil dropped 3.47% to $59.62
  • Gold rose 0.80% to $1,743.67
  • The US dollar lost 0.82% at $92.16 against other major world currencies.

2021 Year-To Date for the major indexes:

  • The S&P Index +9.92%
  • The Dow Jones Index +10.44%
  • The NASDAQ Index +7.85%
  • The Russell 2000 Small cap Index +13.60%
  • EAFE International Index +6.88%
  • 10 Year Treasury Yield is 1.66%, lower for the week and higher for the year
  • 30 Year Treasury Yield is 2.34%, flat for the week and higher for the year
  • WTI Crude Oil Index +22.26%
  • Bloomberg Gold Index -8.25%
  • The Dollar Index +2.47% against other major world currencies

Monday the S&P 500 jumped 58 points on moderate volume as factory orders fell more than expected and ISM non-manufacturing rose and beat expectations.

Tuesday stocks fell 4 points on moderate volume with no major data reported.

Wednesday the S&P 500 gained 6 points on moderate volume as mortgage applications fell and consumer credit use rose and beat estimates.

Thursday stocks rose 17 points on moderate volume as jobless claims rose unexpectantly and continuing claims were slightly lower.

Friday the S&P 500 added 32 points on moderate volume as producer prices rose more than expected.

Mortgage rates were lower last week. The national averages as reported by Bankrate.com indicate a 15-year rate of 2.43% and a 30-year rate of 3.18%. These rates are as of 04/12/2021 and may include points.

What to watch for on the economic calendar this week:

Monday – No major data

Tuesday – Consumer Prices / Small Business Optimism

Wednesday – Mortgage Applications / Import and Export Prices

Thursday – Jobless Claims / Industrial production / Capacity Utilization / Homebuilder Sentiment / Retail Sales / NY Manufacturing

Friday – Housing Starts and Building Permits / Consumer Sentiment

Ronald J. VanSurksum, CFP®
Advanced Asset Management, LLC

April 12, 2020                                                                                                      

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Grandville, MI 49418

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