The Week 24 of 2021 US Stock Market and News Recap

By Larry C. Paxton

US Stock Market Indices Summary
Week 24 of 2021 Ending 06/18/21
	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(05/28/21)	34,529.45	13,748.74	4,204.11
Record Close Date	05/07/21	06/14/21	06/14/21
Record Close	34,777.76	14,174.14	4,255.15
Week 23 Close	34,479.60	14,069.42	4,247.44
Week 24 Close	33,290.08	14,030.38	4,166.45
Percent Change-Week	-3.45%	-0.28%	-1.91%
Percent Change-Month	-3.59%	2.05%	-0.90%
Percent Change-Quarter	0.94%	5.91%	4.87%
Percent Change-YTD	8.77%	8.86%	10.93%
Percent Change-Record	-4.28%	-1.01%	-2.08%
The Stock Market Bull and Bear Tallies YTD
Week 24 Winner and Tally	Bear	3-0	Win
May Winner and Tally	Bull	2-1	Mixed Win
	Weeks	Months	YTD
The Stock Market Bull	10	3	Ahead
The Stock Market Bear	8	0
Mixed Result	6	2
Totals	24	5

The US Stock Market Week 24 Summary:

On Monday The Stock Market Bull took charge and established new record highs on the NASDAQ and S&P500. Proud of his achievement he decided to take the rest of the week off. The Stock Market Bear takes all 5 days on the DJIA, 3 days on the NASDAQ, 4 days on the S&P500, and ends up with a Week 24 3-0 win, his first outright victory since Week 19.

Week 24 News Summary:

Coronavirus Pandemic: 

• As of today, Friday, 06/18/21, at 1:22PM Eastern US, the John Hopkins University CSSE unit says there are now 177,586,893 confirmed cases globally with 3,845,031 deaths, +68,698 from last week, which is -2,435 from the prior week. For the US it is 33,517,146 confirmed cases and 601,239 deaths, +2,156 from last week, which is -17 from the prior week. In the US the push is still being made to have at least 70% of the target population have at least 1 shot by July 4th, which still appears to be achievable. Vaccines are readily available through several of the usual sources across the US. Quite a few states are offering a variety of incentives and rewards to get vaccinated. More doses are being acquired for distribution to underserved populations worldwide, but there are often logistical issues, concerns about the special conditions required to keep the vaccines viable, and using the vaccines before expiration dates.

US Federal Government:

• US President Biden returns from his 6 day trip to Europe for the G-7 gathering, his meeting with Russia President Putin, and discussions with other world leaders. More in the International section.
• US President Biden signs the Juneteenth Act creating June 19 as a federal holiday. More in the Society section.
• The infrastructure development plan continues to be discussed and more options are being proposed. Senator Bernie Sanders proposes an even larger bill of around $6 trillion that will include healthcare and other national items as well.

US Economy: 

• Friday, June 18, 2021:
• Juneteenth Federal holiday
• No economic news releases.

 

• Thursday, June 17, 2021:
• The US Dept of Labor says the 1Q21 US Employer Average Cost/Employee Hour-Wages is at $26.84, Benefits $12.18, for 1Q21 US Employer Total Average Cost/Employee Hour of $39.02, 4Q20 was at $38.60, 3Q20 $38.26, 1Q20 $37.73.
• The US Federal Reserve Bank of Philadelphia says the June 2021 3rd District Manufacturing General Activity Indicator is at 30.7, May 2021 was at 31.5, April 2021 50.2, June 2020 24.7. “Responses … suggest continued expansion in regional manufacturing conditions this month. The survey’s future indexes indicate that respondents expect growth over the remainder of the year.”
• The Conference Board says the Preliminary May 2021 Leading Economic Index(2016=100) is at 114.5, April 2021 was at 113.2, March 2021 111.9. “After another large improvement in May, the U.S. LEI now stands above its previous peak reached in January 2020 (112.0), suggesting that strong economic growth will continue in the near term…”

 

• Wednesday, June 16, 2021:
• The US Federal Open Market Committee releases its statement for its meetings held 06/15-16/21, decides to keep the federal funds rate at 0.00-0.25%, “will continue to increase its holdings of Treasury securities by at least $80 billion per month and of agency mortgage‑backed securities by at least $40 billion per month until substantial further progress has been made toward the Committee’s maximum employment and price stability goals.”
• The US Dept of Commerce/HUD says the Preliminary May 2021 US Home Building Permits Issued Annual Rate is at 1,681,000, April 2021 was at 1,733.000, March 2021 1,755,000, May 2020 1,246,000.
• The US Dept of Labor says the Preliminary May 2021 US Import Prices Monthly Change is at +1.1%, Exports +2.2%, Imports Last 12 Months +11.3%, Exports Last 12 Months +17.4%.

 

• Tuesday, June 15, 2021:
• The US Dept of Labor says the Preliminary May 2021 US Final Demand Producer Price Index is at +0.8%, April 2021 was at +0.6%, March 2021 +1.0%, May 2020 +0.4%; May 2021 Last 12 Months is at +6.6%, April 2021 +6.2%, March 2021 +4.2%, May 2020 -1.1%.
• The US Federal Reserve Board says the Preliminary May 2021 US Factories Capacity Utilization is at 75.2%, April 2021 was at 74.6%, March 2021 74.6%, May 2020 64.8%.
• The US Dept of Commerce/Census says the Preliminary April 2021 US Sales-Manufacturers is at $487.8 billion, Retail $562.6 billion, Wholesalers $570.8 billion, for April 2021 US Sales-Total at $1,621.1 billion, March 2021 was at $1,611.9 billion, February 2021 $1,549.9, April 2020 $1,158.0.
• The Natl Assn of Home Builders/Wells Fargo Preliminary June 2021 US Housing Market Index is at 81, May 2021 was at 83, April 2021 83, June 2020 58. “Despite the monthly decline, the reading above 80 is still a signal of strong demand in a housing market lacking inventory… Higher costs and declining availability for softwood lumber and other building materials pushed down builder sentiment in June.”
• The US Federal Reserve Bank of New York says the June 2021 US Empire State Manufacturing General Business Conditions Index is at +17.4, May 2021 was at +24.3, April 2021 +26.3, June 2020 -0.2. “Business activity continued to expand in New York State, though at a slower pace than last month… firms remained optimistic that conditions would improve over the next six months…”

 

• Monday, June 14, 2021:
• No US economic news released.

Corporate News: 

• Friday, June 18, 2021:
• Boeing(PBR55 $BA) successfully completes its first test flight of the 737-10, the largest airplane in its 737 MAX line.

 

• Thursday, June 17, 2021:
• Danaher(PBR127 $DHR) to acquire privately-held Fargo, ND based 600 employees Aldevron, a manufacturer of high-quality plasmid DNA, mRNA, and proteins, for approximately $9.6 billion cash.
• Fox Corp(PBR240 $FOX) authorizes incremental stock repurchases of up to an additional $2 billion of Class A common stock and Class B common stock, total stock repurchase authorization is now $4 billion of which more than $1.56 billion has been completed to date.
• Pilgrim’s Pride(PBR244 $PPC) to acquire the Meats and Meals business of Kerry Consumer Foods in the UK for around $952 million, to close in 4Q21.
• Alexandria Real Estate(PBR881 $ARE) says it has closed on its public offering of 7 million shares of common stock at $184.00/share.
• Viavi Solutions(PBR988 $VIAV) proposal to qcquire Canada based EXFO(TSX: EXF, NASDAQ: EXFO), in the communications test and measurement industry, for $7.50/share, around $430 million, 103% to the NASDAQ closing price on 06/04/21, has been rejected by EXFO.
• Microsoft(PBR15 $MSFT) CEO Satya Nadella unanimously elected to also be Chairman, Chairman John W. Thompson now Lead Independent Director.

 

• Wednesday, June 16, 2021:
• Tenet Healthcare(PBR162) to sell five hospitals and related hospital operations in the Miami-Dade and Southern Broward counties to Steward Health Care System for around $1.1 billion, to close in 3Q21.
• Elanco Animal Health(PBR670 $ELAN) to acquire KindredBio(NASDAQ: KIN), a biopharmaceutical company focused on developing novel pet therapeutics based on validated human targets, for $9.25/share, around $440 million, to close in 3Q21.
• Viavi Solutions(PBR988) proposes to acquire Canada based EXFO(TSX: EXF, NASDAQ: EXFO), in the communications test and measurement industry, for $7.50/share, around $430 million, 103% to the NASDAQ closing price on 06/04/21.

 

• Tuesday, June 15, 2021:
• Lithia Motors(PBR225 $LAD) has acquired the Southwest Kia Auto Group with five locations in the major metropolitan markets of Austin and Dallas, TX, to add $350 million in annual revenues.

 

• Monday, June 14, 2021:
• No corporate releases of interest.

 

US Society:

• US President Biden signs the Juneteenth Act to observe the end of US slavery, commemorating June 19, 1865, as the day in Galveston, Texas when the news of emancipation was finally announced in the deepest parts of the Confederacy.

International News: 

• The G-7 meeting in England finishes up with US President Biden urging competition with China.
• In Geneva US President Biden met with Russia President Putin, expressed his concern about Russian cybersecurity hackers, presented a list of “off limits” infrastructure targets. Other issues were addressed, no decisions were made, but starting points for further discussions were created.
• N Korea leader Kim Jong-un says he is ready for dialogue and confrontation with the US, admits facing a tense food shortage.
• Israel has a new leader, Naftali Bennett, succeeding long time leader Benjamin Netanyahu who continues to face legal issues, but the coalition that succeeded in the ouster is fragile.
• China launches its first crew to its space station.

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