The Week 25 of 2021 US Stock Market and News Recap

By Larry C. Paxton

US Stock Market Indices Summary
Week 25 of 2021 Ending 06/25/21
	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	06/24/21	06/25/21
Record Close	34,777.76	14,369.71	4,280.70
Week 24 Close	33,290.08	14,030.38	4,166.45
Week 25 Close	34,433.84	14,360.39	4,280.70
Percent Change-Week	3.44%	2.35%	2.74%
Percent Change-Month	-0.28%	4.45%	1.82%
Percent Change-Quarter	4.40%	8.41%	7.75%
Percent Change-YTD	12.51%	11.42%	13.97%
Percent Change-Record	-0.99%	-0.06%	0.00%
The Stock Market Bull and Bear Tallies YTD
Week 25 Winner and Tally	Bull	3-0	Win
May Winner and Tally	Bull	2-1	Mixed Win
	Weeks	Months	YTD
The Stock Market Bull	11	3	Ahead
The Stock Market Bear	8	0
Mixed Result	6	2
Totals	25	5

The US Stock Market Week 25 Summary:

The Stock Market Bull had a big day on Monday and pretty much kept the momentum going all week, established 3 new record highs on the NASDAQ and 2 on the S&P500, finishes with a convincing Week 25 3-0 win, redeeming himself somewhat from his loss the previous week to The Stock Market Bear.

Week 25 News Summary:

Coronavirus Pandemic: 

• As of Friday, 06/25/21, at 3:21PM Eastern US, the John Hopkins University CSSE unit says there are now 180,267,388 confirmed cases globally with 3,905,890 deaths, +60,859 from last week, which is -7,839 from the prior week. For the US it is 33,601,692 confirmed cases and 603,516 deaths, +2,277 from last week, which is +122 from the prior week. The US is closing in on the goal to have at least 70% of the target population have at least 1 shot by July 4th, but vaccination rates have slowed and might result in falling just short. Vaccines are still free through a variety of programs and offered through several government programs and pharmacies. Several states continue to provide incentives 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:

• Friday, June 25, 2021
• VP Harris takes a trip to Texas to make her first official visit to the US/Mexico border to review immigration issues.

•  Thursday, June 24, 2021
• US President Biden announces that in negotiations with US Senators that an infrastructure development plan has been agreed to, details to be worked out.
• The US Federal Housing Finance Agency has extended the COVID-19 Foreclosure and REO Eviction Moratoriums from 06/30/21 to 07/31/21.
• US House of Representatives Speaker Pelosi announces the formation of a select committee to investigate the January 6 attack on the capital building.

US Economy

• Friday, June 25, 2021
• The US Dept of Commerce/BEA says the Preliminary May 2021 US Personal Income Annual Rate is at $20.804 trillion, April 2021 was at $21.219 trillion, March 2021 $24.421 trillion, May 2020 $20.246 trillion.
• The US Federal Reserve Board announces it will extend for a final time its Paycheck Protection Program Liquidity Facility, or PPPLF, by an additional month to 07/30/21.
• The U of Michigan Final June 2021 Consumer Sentiment Index is at 85.5, May 2021 was at 82.9, April 2021 88.3, May June 2020 78.1. “While many are optimistic about a gradual end to the pandemic, consumers still judged the risks from emerging covid variants as appreciable. It is likely that consumers will not reduce their savings and wealth to pre-pandemic levels, but maintain a higher level of precautionary funds.”

• Thursday, June 24, 2021
• The US Federal Reserve Board releases results of annual bank stress tests, which show that large banks continue to have strong capital levels and could continue lending to households and businesses during a severe recession.
• The US Dept of Commerce/BEA says the 1Q21 US Real Gross Domestic Product Annual Rate remains at +6.4%, $22.062 trillion, 4Q20 was at +4.3%, $21.495 trillion, 3Q20 +33.4%, $21.170 trillion, 1Q20 -5.0%, $21.561 trillion.
• The US Dept of Labor says the June 19, 2021 US Initial Unemployment Claims 4 Week Average is at 397,750, May 22, 2021 was at 458,750, April 24, 2021 611,750, June 20, 2020 1,620,750.
• FreddieMac says on June 24, 2021 the US Average 30 Year Fixed Home Mortgage Rate is at 3.02% with 0.7 points & fees, May 27, 2021 was at 2.95%, April 29, 2021 2.98%, June 25, 2020 3.13%. “As the economy progresses and inflation remains elevated, we expect that rates will continue to gradually rise in the second half of the year.”

• Wednesday, June 23, 2021
• The US Dept of Commerce/HUD says the Preliminary May 2021 US New Family Home Sales Annual Rate is at 769,000 units, April 2021 was at 817,000, March 2021 886,000, May 2020 704,000; the May 2021 Median New Home Sale Price is at $374,400, April 2021 was at $365,300, March 2021 $348,300, May 2020 $317,100.
• The US Dept of Commerce/BEA says the Preliminary 1Q21 US Exports of Goods, Services & Income Receipts is at $888.745 billion, US Imports $1,084.485 billion, for a 1Q21 Trade Deficit of $195.740 billion, 4Q20 Trade Deficit was at $175.078 billion, 3Q20 $172.362 billion, 1Q20 $114.788 billion.

• Tuesday, June 22, 2021
• US Federal Reserve Chairman Powell testifies in Congress, says the expectation is that there will be a short term inflationary period that will moderate over the long term.
• The Natl Assn of Realtors reports that the Preliminary May 2021 US Existing Home Sales Annual Rate is at 1,580,000 units, April 2021 was at 1,585,000, March 2021 6,010,000, May 2020 4,010,000; the Preliminary May 2021 US Existing Home Median Price is at $350,300, April 2021 was at $341,600, March 2021 $329,100, May 2020 $283,500.
• The US Federal Reserve Bank of Philadelphia says the June 2021 US 3rd District Non-Manufacturing General Activity Index is at 59.6, May 2021 was at 36.9, April 2021 36.3, June 2020 -3.6. “The respondents expect overall improvement in conditions over the next six months, as both future activity indexes rose.”

• Monday, June 21, 2021
• The US Federal Reserve Bank of Chicago says the Preliminary May 2021 US National Activity Index is at +0.29, April 2021 was at -0.09, March 2021 +2.22, May 2020 +4.62. “Index points to a pickup in economic growth in May.”

US Corporate

• Friday, June 25, 2021
• Amazon(PBR2 $AMZN) says it sold 70+ million items for $1.9+ billion over its 2 week promotion period for its June 21-22 Prime Days.
• eBay(PBR285 $EBAY) completed the transfer of its Classifieds business to Norway based Adevinta(OSLO: ADE) in exchange for $2.5 billion in cash and a 44% equity stake in Adevinta, equivalent to approximately 540 million shares.
• Rockwell Automation(PBR425 $ROK) to acquire pure software-as-a-service, cloud-native smart manufacturing platform provider Plex Systems for $2.22 billion, to close by 09/30/21.

• Thursday, June 24, 2021
• Microsoft(PBR15 $MSFT) launches its new Windows 11 operating system.
• eBay(PBR285 $EBAY) to sell 80.01% of its S Korea business to Emart for around $3.0 billion, to close in late 2021 or early 2022.
• Boston Scientific(PBR294 $BSX) to exercise option to acquire the 73% of Farapulse it does not own for $295 million, plus up to $92 million upon achievement of certain clinical and regulatory milestones as well as additional revenue-based payments for the next three years, to close in 3Q21.
• Brunswick(PBR573 $BC) to acquire Norway based privately held $470 million in revenues for 12 months ending 05/31/21 Navico, a global leader in marine electronics and sensors, for $1.05 billion, to close in 2H21.

• Wednesday, June 23, 2021
• VISA(PBR129 $V) to acquire European open banking platform Tink for around $2.2 billion cash.
• PVH(PBR392 $PVH) to sell certain intellectual property and other assets of its Heritage Brands business, including the IZOD, Van Heusen, ARROW and Geoffrey Beene brand trademarks, to Authentic Brands Group for approximately $220 million cash, to close in 3Q21.
• Electronic Arts(PBR466 $EA) to acquire AT&T(PBR11 $T)’s WarnerMedia’s Warner Bros Games’ Playdemic, Ltd., the mobile games studio responsible for Golf Clash, for $1.4 billion cash.
• Corteva(PBR209 $CTVA) CEO Jim Collins Jr to retire by 12/31/21, new CEO search starts.
• Southwest Airlines(PBR325 $LUV) Chairman/CEO Gary Kelly to transition to Executive Chairman, EVP Corporate Services Robert Jordan to become CEO and Board member on 02/01/22.

• Tuesday, June 22, 2021
• GameStop(PBR506 $GME) completes sale of 5 million shares of common stock, generates gross proceeds of $1.126 billion, will use net proceeds for general corporate purposes as well as for investing in growth initiatives and maintaining a strong balance sheet.
• Splunk(PBR826 $SPLK) gets $1 billion investment in convertible senior notes from tech investing firm Silver Lake.

• Monday, June 21, 2021
• L Brands(PBR246 $LB) files Form 10 with the US SEC regarding its spin-off of Victoria’s Secret & Co planned for 08/21.
• Westlake Chemical(PBR377 $WLK) to acquire the N American building products businesses in roofing; siding, trim and shutters; decorative stone; and windows from Boral Limited (ASX: BLD) for $2.15 billion cash, to close in 2H21.
• Ingersoll-Rand(PBR516) to acquire Germany based $200 million in annual revenues positive displacement pump manufacturer Seepex GmbH for around $525 million cash, to close in 3Q21.
• KKR(PBR581 $KKR) to acquire a majority stake in Vini Cosmetics, a leading branded personal care and beauty products company in India, for $625 million, to close in 07/21.

 

US Society:

• The Minneapolis police officer convicted of the killing of George Floyd in May 2020 gets a 22.5 year prison sentence.

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