The Week 21 and May of 2021 US Stock Market and News Recap
The Stock Market Bull gets a mixed 2-1 win in May 2021 because The Stock Market Bear managed to hold onto the NASDAQ, who remains winless on a monthly basis for 2021.
By Larry C. Paxton
US Stock Market Indices Summary |
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| Week 21 and May of 2021 Ending 05/28/21 | |||
| DJIA | NASDAQ | S&P500 | |
| Previous Year Close(12/31/20) | 30,606.48 | 12,888.28 | 3,756.07 |
| Previous Quarter Close(03/31/21 | 32,981.55 | 13,246.87 | 3,972.89 |
| Previous Month Close(04/30/21) | 33,874.85 | 13,962.68 | 4,181.17 |
| Record Close Date | 05/07/21 | 04/26/21 | 05/07/21 |
| Record Close | 34,777.76 | 14,138.78 | 4,232.60 |
| Week 20 | 34,207.84 | 13,470.99 | 4,155.86 |
| Week 21 | 34,529.45 | 13,748.74 | 4,204.11 |
| Percent Change-Week | 0.94% | 2.06% | 1.16% |
| Percent Change-Month | 1.93% | -1.53% | 0.55% |
| Percent Change-Quarter | 4.69% | 3.79% | 5.82% |
| Percent Change-YTD | 12.82% | 6.68% | 11.93% |
| Percent Change-Record | -0.71% | -2.76% | -0.67% |
The Stock Market Bull and Bear Tallies YTD |
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| Week 21 Winner and Tally | Bull | 3-0 | Win |
| May Winner and Tally | Bull | 2-1 | Mixed Win |
| Weeks | Months | YTD | |
| The Stock Market Bull | 9 | 3 | Ahead |
| The Stock Market Bear | 7 | 0 | |
| Mixed Result | 5 | 2 | |
| Totals | 21 | 5 | |
US Stock Exchanges Week 21 Summary:
The Stock Market Bull made a determined charge and had a good day at the pasture on Monday. The Stock Market Bear attempted a rather half-hearted but nevertheless moderately successful day on Tuesday. The rest of the week The Stock Market Bull prevailed, not dramatically, more like a relaxed grazing time with The Stock Market Bear out of sight, who was more occupied with making plans for the 3 day Memorial Day weekend. The Stock Market Bull gets an easy 3-0 win for Week 21, but has to settle for a mixed 2-1 result for May.
Week 21 News Summary:
Coronavirus Pandemic: As of today, Friday, 05/28/21, at 2:20PM Eastern US, the John Hopkins University CSSE unit says there are now 169,148,029 confirmed cases globally with 3,514,921 deaths, +80,728 from last week, which is -4,513 from the prior week. For the US it is 33,234,714 confirmed cases and 593,845 deaths, +4,710 from last week, which is +648 from the prior week. Over 50% of US adults are now fully vaccinated. Vaccines are readily available across the US for ages 12 and up. Many poorer countries continue to struggle to get vaccines and have higher infection rates. There is some talk about needing booster shots in the future to counter COVID-19 variants and some pharmaceuticals are gearing up development. The cause of the initial outbreak in China is once again making news, with the US and the World Health Organization talking about putting together a commission to determine the source.
US Federal Government: US President Joe Biden’s administration’s revised $1.7 billion infrastructure development plan has been met with a Republican counter proposal for $928 billion. President Biden has also offered up a proposed $6 trillion US budget for the 2022 fiscal year and which will most assuredly also meet resistance.
US Economy: The Federal Reserve Bank of Chicago reports that the US National Activity Index for April is at +0.24, indicating moderate economic growth. New Family Home Sales for April dropped 5.9% from March to an annual rate of 863,000 homes. FreddieMac said the average 30 Year Fixed Mortgage Rate dropped to 2.95% with 0.7 points/fees. The S&P CoreLogic Case-Shiller indicated that US Home Prices in March grew 13.2% from the previous year. The TrueCar forecast for May New Auto Sales is at 1,509,221 units, a 35.8% increase over the previous year. The Conference Board Preliminary May Consumer Confidence Index is at 117.2, a slight drop from April, and approaching pre-pandemic levels. US Weekly Initial Job Claims took a nice dip to 406,000 for the week ending 05/22/21. The 2nd estimate of the US Annual Real Gross Domestic Product for 1Q21 remained at +6.4%. The US April Personal Annual Income Rate is at $21.195 trillion, a drop of 13.1% from March, an effect caused by stimulus checks having been paid in March. The American Automobile Association says the average price for a gallon of regular gas on 05/28/21 is at $3.044, it was $1.972 on 05/29/20. The US Treasury says the US National Debt on 05/25/21 was at $28.188 trillion, it was $25.752 trillion on 05/31/20. On 05/28/21 the yield on a 10 Year US Treasury Note is at 1.58%, it was 0.65% on 05/29/20. On 05/28/21 it would cost $1.2195 to buy a Euro. The University of Michigan Final May Consumer Sentiment Index is at 82.9, April was at 88.3, May 2020 was at 72.3.
Corporate News: Cabot Oil & Gas(PBR956) and Cimarex Energy(PBR939) to merge in an all stock deal, will create a new company with an enterprise value of $17 billion. IAC(PBR698) completes spin-off of its Vimeo unit as an independent public company. Amazon(PBR2) to acquire MGM for $8.45 billion. Amazon(PBR2) announces Andy Jassy will become its CEO on 07/05/21, succeeds Jeff Bezos who becomes Executive Chairman. Mondelez(PBR102) to acquire Greece-based Chipita for $2 billion. There were some initial public offerings during the week. Airlines are seeing increased passenger traffic, cruise lines announced some summer voyages departure dates, and theme parks are opening as the COVID-19 pandemic starts to subside and more relaxed rules are implemented.
Society: It was a relatively quiet week, which included the 1 year remembrance of the death of George Floyd on 05/25/20 by a Minneapolis policeman who has since been convicted.
International News: The ceasefire between Israel and Hamas has held so far with more details being worked out. US President Biden and Russia President Putin have agreed to meet in Geneva, Switzerland, on 06/16/21 to discuss relations between the two countries. The Russian government continues to deny it has anything to do with cyberattacks on US organizations.
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