The Week 30 and July of 2021 US Stock Market  News Recap

The Stock Market Bear wins Week 30 of 2021 but the Stock Market Bull is still without a loss year-to-date on a monthly basis.

By Larry C. Paxton

The US Stock Market Week 30 Summary:

The Stock Market Bull continued where he left off in Week 29 by establishing another trifecta of record closes on Monday. But The Stock Market Bear prevented The Stock Market Bull from achieving a trifecta of trifectas by dominating Tuesday. On Wednesday The Stock Market Bear got a mixed win. The Stock Market Bull returned with a complete victory on Thursday and looked like Week 30 would end up with a mixed result for somebody. But The Stock Market Bear returned on Friday with a dominating run to get the 3-0 win in Week 30. However, the month of July was another clear win for The Stock Market Bull, who remains unbeaten on a monthly basis for the 7th month in a row in 2021.

Summary News Items for Week 30:

• The US Dept of Commerce/HUD reports that the Preliminary June 2021 New Family Home Sales Annual Rate was at 676,000 units, May was at 724,000, April 785,000, June 2020 839,000. The June 2021 Median Price was at $361,800, May was at $380,700, April $378,200, June 2020 $341,100. Supply is at 6.3 months.
• The US Dept of Commerce/Census says that the 2Q21 US Total Housing Units is at 141,794,000, Occupied is at 126,155,000, Owner Occupied is at 82,511,000, for a Homeownership Rate of 65.4%, 1Q21 was at 65.6%, 4Q20 65.8%, 2Q20 67.9%.
• The S&P CoreLogic Case-Shiller Preliminary May 2021 US National Home Price Index(Jan2000=100) is at 254.92, April was at 249.89, March 243.91, May 2020 218.60, making a +16.6% increase in home price over the past 12 months.
• TrueCar forecasts July 2021 Total New Vehicle Units Sold to be at 1,292,064 with an average transaction price of $38,188, Average Loan Rate of 4.50% for 70 months.
• The Conference Board says the Preliminary July 2021 US Consumer Confidence Index(1985=100) is at 129.1, June was at 128.9. “… Consumers’ optimism about the short-term outlook didn’t waver, and they continued to expect that business conditions, jobs, and personal financial prospects will improve.”
• ADP’s 2Q21 Workforce Vitality Report shows Average Wage Growth of +2.3%, 2Q20 was at +5.7%, Average Wage Level is at $30.85/hour, +0.7% from 2Q20.
• The US Energy Information Administration says that on 07/23/21 US Crude Oil Stockpiles are at 435.6 million barrels of crude oil, 06/25/21 was at 452.3, 05/21/21 484.3, 07/24/21 526.0.
• The Federal Open Market Committee met July 27-28, keeps the short term federal funds rate at 0.00%-0.25%, says, “With progress on vaccinations and strong policy support, indicators of economic activity and employment have continued to strengthen…”
• The US Dept of Labor says for the week ending 07/24/21 the Weekly Initial Unemployment Insurance Claims are at 400,000, 06/19/21 was at 411,000, 05/22/21 406,000, 07/25/20 1,434,000.
• FreddieMac reports that for the week ending 07/29/21 the Average 30 Year Fixed Rate Mortgage was at 2.80% with 0.7 points & fees, 06/24/21 was at 3.02%, 05/27/21 2.95%, 07/30/20 2.99%.
• The US Dept of Commerce says that the 2Q21 Real Gross Domestic Product Annual Rate for the Quarter is at +6.5%, $22.723 trillion, 1Q21 was at +6.3%, 4Q20 +4.5%, 2Q20 -31.2%.
• The US Dept of Labor says the 2Q21 Employment Cost Index, All Civilian Workers(12/2005=100) is at 144.7, 1Q21 was at 143.7, 4Q20 142.4, 2Q20 140.7.
• The US Dept of Commerce/BEA reports that the Preliminary June 2021 US Personal Income Annual Rate is at $20.414 trillion, May was at $20.388 trillion, April $20.853, June 2020 $20.033 trillion.
• Market News International(MNI) says that the July 2021 Chicago Business Barometer(>50 is gaining) at 73.4, June was at 66.1, May 75.2, July 2020 51.9. “Demand is strong but firms remain concerned about supply chain disruptions and rising prices.”
• The American Automobile Assn says that on 07/30/21 the US Average Price for a Gallon of Regular Gas is at $3.168, 06/30/21 was at $3.118, 05/28/21 $3.044, 07/31/20 $2.189.
• The US Dept of the Treasury says that on 07/29/21 US National Debt-Public is at $22.267 trillion, Intragovernmental $6.193 trillion, for US Total National Debt of $28.460 trillion, 06/30/21 was at $28.530 trillion, 05/28/21 $28.199 trillion, 07/30/20 $26.525 trillion.
• On 07/30/21 the Gold Price/Ounce closed at $1,817.20, 06/30/21 was at $1,771.60, 05/28/21 $1,906.30, 07/31/21 $1,985.90.
• The US Dept of the Treasury reports that the 07/30/21 US 10 Year Treasury Note Yield is at 1.24%, 06/30/21 was at 1.45%, 05/28/21 1.58%, 07/31/21 0.55%.
• At the close of 07/30/21 the US Dollar Price for a Euro was $1.1869, 06/30/21 was at $1.1858, 05/28/21 $1.2195, 07/31/20 $1.1781.
• At 11:59PM ET on 07/30/21 the price of a Bitcoin is at $41,829, 06/30/21 was at $34,585, 05/28/21 $30,445, 07/31/20 $8,608.
• The U of Michigan Final July 2021 Consumer Sentiment Index is at 81.2, June was at 85.5, May 82.9, July 2020 72.5. “While most consumers still expect inflation to be transitory, there is growing evidence that an inflation storm is likely to develop on the not too distant horizon.”
• US President Biden announces the end of US combat missions in Iraq.
• After several weeks of negotiations on Friday the US Senate votes to take up a $1 trillion infrastructure bill.
• The COVID-19 Delta variant cases continue to increase. As a result the US Center for Disease Control recommends that everyone wear a mask when in public places.
• The Tokyo Olympics 2020 starts the first full week of competition.
• US/China relations continue to struggle on many fronts.
• North and South Korea restore communication channels, agree to improve ties.
• China continues its crackdown on its high technology firms.

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