The Week 19 of 2021 US Stock Market and News Recap
The Stock Market Bear starts out Week 19 strong, The Stock Market Bull makes an equally strong comeback, but waited one day too many.
By Larry C. Paxton
US Stock Market Indices Summary |
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| Week 19 of 2021 Ending 05/14/21 | |||
| 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 18 | 34,777.76 | 13,752.24 | 4,232.60 |
| Week 19 | 34,382.13 | 13,429.98 | 4,173.85 |
| Percent Change-Week | -1.14% | -2.34% | -1.39% |
| Percent Change-Month | 1.50% | -3.82% | -0.18% |
| Percent Change-Quarter | 4.25% | 1.38% | 5.06% |
| Percent Change-YTD | 12.34% | 4.20% | 11.12% |
| Percent Change-Record | -1.14% | -5.01% | -1.39% |
The Stock Market Bull and Bear Tallies YTD |
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| Week 19 Winner and Tally | Bear | 3-0 | Win |
| April Winner and Tally | Bull | 3-0 | Win |
| Weeks | Months | YTD | |
| The Stock Market Bull | 8 | 3 | Ahead |
| The Stock Market Bear | 7 | 0 | |
| Mixed Result | 4 | 1 | |
| Totals | 19 | 4 | |
US Stock Exchanges Week 19 Summary:
The Stock Market Bull decided to start Week 19 by taking some time off to smell the spring flowers. The Stock Market Bear took advantage over the first 3 days and not only pummeled the NASDAQ as he had done in weeks past, but also the DJIA and S&P500. When The Stock Market Bull looked up and saw the damage he butted The Stock Market Bear over the fence and took control of the pasture in a strong way on Thursday and Friday on all 3 indices. Unfortunately it was a day too late. The Stock Market Bear gets Week 19 with a 3-0 sweep. Will the volatility continue in Week 20?
Week 19 News Summary:
Coronavirus Pandemic: As of today, Friday, 05/14/21, at 1:21PM Eastern US, the John Hopkins University CSSE unit says there are now 161,381,569 confirmed cases globally with 3,348,952 deaths, +87,969 from last week, which is -1,729 from the prior week. For the US it is 32,883,624 confirmed cases and 585,073 deaths, +4,281 from last week, which is -720 from the prior week. Vaccines supplies are plentiful through most state government programs and most pharmacies. The Pfizer/BioNTech vaccines were granted additional Emergency Use Authorizations by the US FDA for ages 12 and up. The CDC has released new guidelines saying people who have been fully vaccinated do not have to wear masks outside in most situations. Countries like India and Brazil continue to struggle with high infection and death rates.
US Federal Government: US President Joe Biden met with some Republicans to discuss his infrastructure development proposals and expressed a willingness to negotiate.
US Economy: The US Consumer Price Index jumped up 0.8% in April, much higher than forecast, and generated a lot of buzz about inflation concerns, which the Federal Reserve has downplayed, which has targeted 2% annual growth as a target. Weekly initial job claims fell to its lowest since the start of the pandemic. Job openings increased to 8.1 million. Wages remain around the same. Some sectors, primarily hospitality and retail, are struggling to find employees, most saying it is because unemployment benefits are still better than what the employers can offer. In response some states are talking about eliminating unemployment benefits. The US deficit widens to a record $1.9 trillion over the first 7 months of the fiscal year. Retail sales were unexpectedly flat in April, a significant increase had been forecast. Industrial output increased in April. US import prices increased. Mortgage rates remain near record lows. There was a ransomware cyberattack on Colonial Pipeline, a midstream energy company with 5,500 miles of pipelines that is the primary support for fuel supplies in the Northeast US. By the end of the week services were restored, the attackers have been identified, and once again demonstrated vulnerabilities in the US. Cryptocurrencies continue to grab headline news and draw a variety of reactions from banks, investors, corporations, and influential individuals.
Corporate Business: More 1Q21 corporate earnings reports came in with mixed results. Technology related companies continue to dominate much of the news. The shortage of semiconductor chips continues to be an issue for car and electronic goods manufacturers with some forecasts showing that the problem could last for a couple of years.
Society: It was a quiet week, with much of the news still being on COVID-19 vaccination efforts and cautious optimism as the economy continues to reopen.
International News: India, Brazil and some other countries continue to see a rise in COVID-19 cases. Hamas in the Palestinian areas continues to launch rockets into Israel and Israel is responding with its own rockets targeted at military targets but which are also inflicting civilian casualties.
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