The Week 17 of 2021 US Stock Market and News Recap
Week 17 was The Stock Market Bull’s at the close on Thursday, but on Friday The Stock Market Bear returned and spoiled the Bull’s victory dance.
By Larry C. Paxton
US Stock Indices Summary |
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| Week 17 and April of 2021 Ending 04/30/21 | |||
| 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(03/31/21) | 32,981.55 | 13,246.87 | 3,972.89 |
| Record Close Date | 04/16/21 | 04/26/21 | 4/29/21 |
| Record Close | 34,200.67 | 14,138.78 | 4,211.47 |
| Week 16 Close | 34,043.49 | 14,016.81 | 4,180.17 |
| Week 17 & April Close | 33,874.85 | 13,962.68 | 4,181.17 |
| Percent Change-Week | -0.50% | -0.39% | 0.02% |
| Percent Change-Month | 2.71% | 5.40% | 5.24% |
| Percent Change-Quarter | 2.71% | 5.40% | 5.24% |
| Percent Change-YTD | 10.68% | 8.34% | 11.32% |
| Percent Change-Record | -0.95% | -1.25% | -0.72% |
The Stock Market Bull and Bear Tallies YTD |
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| Week 17 Winner and Tally | Bear | 2-1 | Mixed Win |
| April Winner and Tally | Bull | 3-0 | Win |
| Weeks | Months | YTD | |
| The Stock Market Bull | 8 | 3 | Ahead |
| The Stock Market Bear | 6 | 0 | |
| Mixed Result | 3 | 1 | |
| Totals | 17 | 4 | |
US Stock Exchanges Week 17 Summary:
The Stock Market Bull started out a promising Week 17 on Monday by establishing new record highs for the NASDAQ and S&P500. The Stock Market Bear returned on Tuesday to take a nibble out of those marks and then Wednesday took out a good-sized chunk. This infuriated The Stock Market Bull who trampled the Bear on Thursday, established another new record for the S&P500 and appeared to have a lock to win the week. But The Stock Market Bear roared back on Friday, wiped out all the Bull‘s gains for the week except for the S&P500 where he fell shy just 1.01 points. In a back and forth week The Stock Market Bear prevails with a 2-1 mixed result for Week 17, but The Stock Market Bull easily captures the month of April with a 3-0 result.
Week 17 News Summary:
Coronavirus Pandemic: As of today, Friday, 04/30/21, at 1:21PM Eastern US, the John Hopkins University CSSE unit says there are now 150,817,249 confirmed cases globally with 3,171,285 deaths, +88,510 from last week. For the US it is 32,333,463 confirmed cases and 575,815 deaths, +4,636 from last week. Vaccination rates in the US continue to grow and the rate of new cases and deaths is starting to drop. India has been hit hard with rates increasing dramatically and is asking for help across the globe.
US Federal Government: The event of the week was on Wednesday evening when US President Joe Biden addressed the nation regarding the progress of his administration after 100 days in office. He stressed progress on the COVID-19 pandemic, promoted his around $4 trillion in spending for infrastructure and other projects and how they would be paid for, discussed national security, talked about racial justice and encouraged Americans to be united while celebrating diversity at the same time.
US Economy: Housing prices increased around 12% over the past year, mortgage rates remain at near record lows, but available housing inventories remain low. Initial weekly jobless claims were at 553,000, continuing the downward trend. The Federal Open Market Committee met and voted to keep federal short term interest rates at 0.00-0.25%, and continue its assets purchase programs of $120 billion/month. The 1Q21 Gross Domestic Product annual rate was up at +6.4%. The Personal Income annual rate is nearly 30% more than last year. Consumer spending and outlooks were also up for the week, based on an optimistic post-pandemic view.
Corporate Business: 1Q21 corporate earnings reports were generally positive with guidance being cautiously optimistic about the COVID-19 pandemic coming to an end sometime in the summer.
Society: Every day there seems to be a mass shooting somewhere. Citizens and politicians continue to struggle with how to stop this trend without infringing on 2nd Amendment rights.
International News: India, Brazil and some other countries see a rise in COVID-19 cases.
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