The Week 34 of 2021 US Stock Market  News Recap

By Larry C. Paxton

US Stock Market Indices Summary
Week 34 of 2021 Ending 08/27/21
	DJIA	NASDAQ	S&P500
Previous Year Close(12/31/20)	30,606.48	12,888.28	3,756.07
Previous Quarter Close(06/30/21	34,502.51	14,503.95	4,297.50
Previous Month Close(7/30/21)	34,935.47	14,672.68	4,395.26
Record Close Date	08/16/21	08/27/21	08/27/21
Record Close	35,625.40	15,129.50	4,509.37
Week 33-Friday & Close	35,120.08	14,714.66	4,441.67
Week 34-Monday	35,335.71	14,942.65	4,479.53
Day % Change	0.61%	1.55%	0.85%
Week 34-Tuesday	35,366.26	15,019.80	4,486.23
Day % Change	0.09%	0.52%	0.15%
Week 34-Wednesday	35,405.50	15,041.86	4,496.19
Day % Change	0.11%	0.15%	0.22%
Week 34-Thursday	35,213.12	14,945.81	4,470.00
Day % Change	-0.54%	-0.64%	-0.58%
Week 34-Friday & Close	35,455.80	15,129.50	4,509.37
Day % Change	0.69%	1.23%	0.88%
Percent Change-Week	0.96%	2.82%	1.52%
Percent Change-Month-to-Date	1.49%	3.11%	2.60%
Percent Change-Quarter-to-Date	2.76%	4.31%	4.93%
Percent Change-Year-to-Date	15.84%	17.39%	20.06%
Percent Change-Record	-0.48%	0.00%	0.00%
The Stock Market Bull and Bear Tallies YTD
Week 34 Winner and Tally	Bull	3-0	Win
July Winner and Tally	Bull	3-0	Win
	Weeks	Months	YTD
The Stock Market Bull	16	4	Winning
The Stock Market Bear	11	0	Losing
Mixed Result	7	3
Totals	34	7

The US Stock Market Week 34 Summary:

With a big snort and hoofs pounding the ground The Stock Market Bull swept Monday in a big way, then Tuesday and Wednesday with smaller gains. But The Stock Market Bear decided he wanted to play as well and took Thursday, wiping out much of the Tuesday and Wednesday gains as COVID-19 Delta variant and a suicide bombing at Afghanistan’s Kabul Airport during the emergency evacuations news dominated. But on Friday, with the assistance of some good economic news and plans announced fpr the tapering of bond purchases by the Federal Reserve later this year, The Stock Market Bull returned and had a very nice end to week, closes with record highs for the NASDAQ and S&P500, and takes a clear 3-0 victory for Week 34.

Summary News Items for Week 34:

US Economy News

• Friday, August 27, 2021

• The US Dept of Commerce/BEA says the Preliminary July 2021 US Personal Income Annual Rate is at $20.668 trillion, June was at $20.442 trillion, May $20.405 trillion, July 2020 $20.174 trillion, July 2019 $18.688 trillion.
• The U of Michigan says the Final August 2021 US Consumer Sentiment Index is at 70.3, July 2021 was at 81.2, June 85.5, August 2020 74.1, August 2019 89.8. “The Consumer Sentiment Index fell by 13.4% from July, recording the least favorable economic prospects in more than a decade… Consumers’ extreme reactions were due to the surging Delta variant, higher inflation, slower wage growth, and smaller declines in unemployment. The extraordinary falloff in sentiment also reflects an emotional response, from dashed hopes that the pandemic would soon end and lives could return to normal.”

• Thursday, August 26, 2021

• The US Dept of Commerce/BEA says the 2nd Estimate of the 2Q21 US Real Gross Domestic Product Annual Rate is at +6.6%, $22.731 trillion, 1Q21 was at $22.038 trillion, 4Q20 $21.478 trillion, 2Q20 $19.477 trillion, 2Q19 $21.330 trillion.
• The US Dept of Labor says for the Week Ending 08/21/21 the US Initial Unemployment Insurance Claims 4 Week Moving Average is at 366,500, 07/24/21 was at 394,500, 06/19/21 397,750, 08/22/20 1,068,000, 08/24/19 215,500.
• FreddieMac says for the Week Ending 08/26/21 the US Average 30 Year Fixed Rate Mortgage is at 2.87% with 0.6 points/fees, 07/29/21 was at 2.80%, 06/24/21 3.02%, 08/27/20 2.91%, 08/29/19 3.58%. “The tug-of-war between the economic recovery and rising COVID-19 cases has left mortgage rates moving sideways over the last few weeks….”
• TrueCar says the Forecasted August 2021 US Auto Sales-Retail is at 1,077,701 units, Fleet 134,398, for Total Forecasted August 2021 US Auto Sales of 1,212,399 units, July 2021 was at 1,291,775, June 2021 1,300,873, August 2020 1,319,682, August 2019 1,602,276; Forecasted August 2021 Average Auto Transaction Price is at $38,520, August 2020 was at $36,373, August 2019 $34,327.

• Wednesday, August 25, 2021

• The US Energy Information Administration says on 08/20/21 the US Millions of Barrels of Crude Oil Stocks are at 432.6, 07/23/21 was at 435.6, 06/25/21 452.3, 08/21/20 507.8, 08/23/19 427.8.

• Tuesday, August 24, 2021

• The US Dept of Commerce/HUD says the Preliminary July 2021 US New Family Homes Sold are at a 708,000 units annual rate, June was at 701,000, May 720,000, July 2020 972,000, July 2019 661,000; July 2021 US Median Home Price is at $390,500, June was at $370,200, May 387,300, July 2020 $329,800, July 2019 $308,300.
• The US Federal Reserve Bank of Philadelphia says the August 2021 US 3rd District Nonmanufacturing General Activity Index is at +39.1, July was at +53.1, June +59.6, August 2020 +1.6, August 2019 +8.5. “The respondents expect overall improvement in conditions over the next six months.”
• The US Federal Reserve Bank of Richmond says the Preliminary August 2021 US 5th District Manufacturing Index(Annualized) is at +9%, July was at +27%, June +26%, August 2020 +18%, August 2019 +1%. “The composite index declined from 27 in July to 9 in August but remained in expansionary territory… Overall, they were optimistic that conditions would improve in the next six months….”
• The US Federal Reserve Bank of Richmond says the Preliminary August 2021 US 5th District Service Sector Revenue Index(Annualized) is at +15%, July was at +19%, June +29%, August 2020 +2%, August 2019 +6%. “Respondents reported improved local business conditions and increased capital spending, and they were optimistic that conditions would continue to improve in the coming months….”

• Monday, August 23, 2021

• The US Federal Reserve Bank of Chicago says the Preliminary July 2021 US National Activity Index is at +0.53, June was at -0.01, May +0.15, July 2020 +2.66, July 2019 -0.42. “Index points to a pickup in economic growth in July.”
• The Natl Assn of Realtors says the Preliminary July 2021 US Existing Home Sales Annual Rate is at 5,990,000 units, June was at 5,870,000, May 5,780,000, July 2020 5,900,000, July 2019 5,390,000; the July 2021 US Median Existing Home Price is at $359,900, June was at $363,300, May $350,300, July 2020 $305,600, July 2019 $280,400. “We see inventory beginning to tick up, which will lessen the intensity of multiple offers… Much of the home sales growth is still occurring in the upper-end markets, while the mid- to lower-tier areas aren’t seeing as much growth because there are still too few starter homes available.”

US Government/Other

• The Delta variant of COVID-19 cases continue at high levels in the US and across the world, especially for non-vaccinated people.
• The airlift evacuation of US citizens and Afghanistan helpers and their families, due to be completed by August 31, is briefly interrupted when on Thursday a suicide bomber kills 13 US servicemen and 200 Afghans at the Kabul Airport. US President Biden updates the American people, says those responsible will be found and dealt with, airlift continues.
• Hurricane/Tropical Storm Henri moves up the Northeast coastline of the US with torrential downpours and high winds.
• The US House of Representatives approves a measure to proceed with developing a $3.5 trillion budget plan for the next fiscal year, also starts work on the $1 trillion infrastructure bill passed by the US Senate.
• At the Federal Reserve Bank of Kansas City’s Jackson Hole Annual Economics Meeting, which was held remotely, US Federal Reserve Chairman Jerome Powell says the labor market is improving, expects inflation to drop to its 2% target over time, announces plans for a gradual tapering of bond purchases program starting before the end of the year.
• New York governor Andrew Cuomo’s resignation is effective on Tuesday, August 24th, in response to sexual harassment allegations. Kathy Hochul becomes governor, the first woman to hold that position in New York.
• The US Biden administration cancels more student loan debts, this time $1.1 billion for ITT students.
• Gulf of Mexico tropical storm Ida is expected to become a hurricane, to reach landfall around New Orleans.

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