Updates

Weekly Update as of market close April 9, 2021

Strong economic data and a growing number of vaccinated Americans helped fuel significant market gains last Monday. The prior week’s favorable jobs report, coupled with purchasing managers’ encouraging news in both the manufacturing and services sectors, provided encouragement for investors. The Nasdaq rose 1.7%, followed by the S&P 500 (1.4%), the Dow (1.1%), the Global […]

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High-Frequency Indicators: Where to Look for Signs of Recovery

Since the pandemic began, disruptions in business activity have varied greatly from region to region, and often from one week to the next, according to the severity of local COVID-19 outbreaks. Unfortunately, many of the official government statistics used to gauge the health of the U.S. economy are backward looking and somewhat delayed. Changes in […]

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Weekly Update as of market close April 1, 2021

Stocks opened last week generally down, with only the Dow posting a marginal 0.3% gain. The Russell 2000 plunged 2.8%, the Nasdaq dropped 0.6%, while the Global Dow and the S&P 500 each slipped 0.1%. The sectors were mixed, with utilities, consumer staples, communication services, and health care pushing ahead, while energy, financials, information technology, […]

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U.S. Credit-Card Debt Levels See Record Drop in 2020

Despite the financial challenges experienced by Americans as a result of the coronavirus pandemic, U.S. credit-card debt dropped to record levels in 2020, decreasing by almost $83 billion.1 This unprecedented drop was likely the result of individuals receiving financial assistance through the Coronavirus Aid, Relief, and Economic Security (CARES) Act and having access to more cash. […]

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Weekly Update as of market close March 26, 2021

Stocks ended last Monday mostly higher, as a rise in Treasury prices sent yields lower, which offered a boost to equities, particularly tech shares. The Nasdaq jumped 1.2%, the S&P 500 gained 0.7%, and the Dow rose 0.3%. Small-cap shares underperformed, driving the Russell 2000 down 0.9%. The Global Dow dipped 0.2%. Crude oil prices […]

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Due Date for Federal Income Tax Returns and Payments Postponed to May 17

Due to the unusual conditions related to the coronavirus pandemic, the due date for individuals to file 2020 federal income tax returns and make tax payments has been postponed by the IRS from Thursday, April 15, 2021, to Monday, May 17, 2021. No interest, penalties, or additions to tax will be incurred by taxpayers during […]

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Weekly Update as of market close March 19, 2021

Stocks opened last week higher on encouraging economic and vaccine news. The S&P 500 climbed for the fifth straight session, closing up 0.7%, and the Dow advanced for the seventh session, reaching another record high after gaining 0.5%. Tech stocks rebounded, driving the Nasdaq up 1.1%. The Russell 2000 and the Global Dow each rose […]

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American Rescue Plan Act Provides Relief to Individuals and Businesses

On Thursday, March 11, 2021, the American Rescue Plan Act of 2021 (ARPA 2021) was signed into law. This is a $1.9 trillion emergency relief package that includes payments to individuals and funding for federal programs, vaccines and testing, state and local governments, and schools. It is intended to assist individuals and businesses during the […]

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Weekly Update as of market close March 12, 2021

Stocks opened last week mixed, as cyclicals and value stocks advanced, while tech stocks plunged. The Dow (1.0%), the Global Dow (0.8%), and the Russell 2000 (0.5%) posted moderate gains. The S&P 500 fell 0.5%. The Nasdaq dove into correction territory after dropping 2.4% on the day and is down 11.0% from its all-time high. […]

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Weekly Update as of market close March 5, 2021

Stocks rebounded in a big way last Monday. Investors may be picking low-hanging fruit following the prior week’s depressed values, or they may have regained confidence in the market despite higher Treasury yields. In any case, each of the benchmark indexes listed here posted sizable gains, led by the Russell 2000 (3.4%), followed by the […]

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