June 12, 2021 Weekly Market Update. The Nasdaq led the U.S. major equities with +1.85% followed by the S&P 500 +0.41% while the Dow Jones Industrial Average declined -0.80%. Inflation took center stage on the week with Consumer prices jumping 5% in May, marking the fastest pace hike since the summer of 2008. Used cars and truck prices continued their climb higher, rising 7.3% on the month and 29.7% for the past 12 months while the gasoline index is up 56.2% over the past year. New job claims declined 9,000 from previous week to 376,000. Meanwhile the White House and Congress continue to work on a meeting of the minds for the infrastructure stimulus bill.
June 5, 2021 Weekly Market Update. All major U.S. equity indexes rose at a modest pace in a rather uneventful news week for the stock market: the Dow Jones Industrial Average +0.66%, the S&P 500 Index +0.61% and the Nasdaq +0.48%. However, there was one positive piece of data the reconfirmed the upward trajectory of the economy and that was economy added 559,000 jobs in May, well above April’s 278,000 (Q1 GDP remained at 6.4%). Over 60% of America’s population has now had at least one vaccination shot leading to sharp U.S. declines in Covid hospitalizations and deaths. Accordingly, it comes to no surprise that TSA screened more than 7.1 million people during the Memorial Day weekend - its highest traffic numbers since March 2020.