AAM Weekly Market Wrap – November 15, 2021

Weekly Market Wrap: Stocks broke a 5 week winning streak as inflation hit a 30-year high and congress passed the infrastructure spending bill.

For The Week

  • The S&P 500 slipped 0.31% to 4,682.85
  • Oil lost 0.59% to $80.79
  • Gold gained 2.62% to $1,867.00
  • The US dollar added 0.94% at $95.11 other major world currencies.

2021 Year-To Date for the major indexes:

  • The S&P Index +24.67%
  • The Dow Jones Index +17.95%
  • The NASDAQ Index +24.67%
  • The Russell 2000 Small cap Index +22.12%
  • EAFE International Index +11.53%
  • 10 Year Treasury Yield is 1.54%, higher for the week and higher for the year
  • 30 Year Treasury Yield is 1.95%, higher for the week and higher for the year
  • WTI Crude Oil Index +66.51%
  • Bloomberg Gold Index -1.76%
  • The Dollar Index +5.75% against other major world currencies

Monday the S&P 500 rose 4 points on moderately heavy volume with no major data reported.

Tuesday stocks lost 16 points on moderately heavy volume as producer prices rose and matched while small business optimism fell.

Wednesday the S&P 500 dropped 39 points on moderate volume as jobless claims fell a little less than expected, continuing claimer were higher, mortgage applications rose and consumer prices were higher than expected to a 30-year high.

Thursday stocks rebounded 3 points on moderately light volume with no major data reported.

Friday the S&P 500 gained 34 points on moderately light volume as consumer sentiment fell more than expected.

Mortgage rates were lower last week. The national averages as reported by Bankrate.com indicate a 15-year rate of 2.40% and a 30-year rate of 3.07%. These rates are as of 11/15/2021 and may include points.

What to watch for on the economic calendar this week:

Monday – NY Manufacturing

Tuesday – Import & Export Prices / Capacity Utilization and Industrial Production / Homebuilder Sentiment / Retail Sales

Wednesday – Mortgage Applications / Housing Starts and Building Permits

Thursday – Jobless Claims / Leading Economic Indicators

Friday –No major data

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

November 15, 2021

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