AAM Weekly Market Wrap – April 5, 2021

Weekly Market Wrap: Stocks gained for the 2nd week in a row as the March jobs report was better than expected and the rate of American’s being vaccinated continued to increase.

For The Week

  • The S&P 500 gained 1.14% to 4,019.87
  • Oil rose 0.79% to $61.45
  • Gold slipped 0.11% to $1,729.86
  • The US dollar jumped 1.31% at $92.92 against other major world currencies.

2021 Year-To Date for the major indexes:

  • The S&P Index +7.02%
  • The Dow Jones Index +8.32%
  • The NASDAQ Index +4.59%
  • The Russell 2000 Small cap Index +14.13%
  • EAFE International Index +5.33%
  • 10 Year Treasury Yield is 1.68%, flat for the week and higher for the year
  • 30 Year Treasury Yield is 2.34%, lower for the week and higher for the year
  • WTI Crude Oil Index +26.65%
  • Bloomberg Gold Index -8.98%
  • The Dollar Index +1.14% against other major world currencies

Monday the S&P 500 slipped 3 points on heavy volume with no major data reported.

Tuesday stocks fell 13 points on moderate volume as consumer confidence rose and beat expectations, FHFA home prices rose while Shiller home prices rose and beat estimates.

Wednesday the S&P 500 gained 14 points on heavy volume as mortgage applications fell, ADP employment rose a little less than expected, Midwest manufacturing rose and beat while pending home sales fell more than expected.

Thursday stocks jumped 47 points on moderate volume as jobless claims rose more than expected, continuing claims were lower, construction spending fell a little less than expected while ISM manufacturing rose and beat estimates.

Friday the markets were closed but jobs data for March was released showing a better than expected increase of 916,000 jobs with unemployment falling to 6.0%,

Mortgage rates were higher last week. The national averages as reported by Bankrate.com indicate a 15-year rate of 2.51% and a 30-year rate of 3.27%. These rates are as of 04/5/2021 and may include points.

What to watch for on the economic calendar this week:

Monday – Factory Orders / ISM Non-manufacturing

Tuesday – No major data

Wednesday – Mortgage Applications / Consumer Credit

Thursday – Jobless Claims

Friday – Producer Prices

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

April 5, 2020                                                                                                         

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Grandville, MI 49418

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