The Week 27 of 2021 US Stock Market News Recap
In Week 27 The Stock Market Bull comes back with a strong Friday to establish a trifecta of record closes for the 3 major US stock indices for the second week in a row.
By Larry C. Paxton
US Stock Market Indices Summary |
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| Week 27 of 2021 Ending 07/09/21 | |||
| 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(06/30/21) | 34,502.51 | 14,503.95 | 4,297.50 |
| Record Close Date | 07/09/21 | 07/09/21 | 07/09/21 |
| Record Close | 34,870.16 | 14,701.92 | 4,369.55 |
| Week 26 Close | 34,786.35 | 14,639.33 | 4,352.34 |
| Week 27 Close | 34,870.16 | 14,701.92 | 4,369.55 |
| Percent Change-Week | 0.24% | 0.43% | 0.40% |
| Percent Change-Month-to-Date | 1.07% | 1.36% | 1.68% |
| Percent Change-Quarter-to-Date | 1.07% | 1.36% | 1.68% |
| Percent Change-Year-to-Date | 13.93% | 14.07% | 16.33% |
| Percent Change-Record | 0.00% | 0.00% | 0.00% |
The Stock Market Bull and Bear Tallies YTD |
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| Week 27 Winner and Tally | Bull | 3-0 | Win |
| June Winner and Tally | Bull | 2-1 | Mixed Win |
| Weeks | Months | YTD | |
| The Stock Market Bull | 13 | 3 | Winning |
| The Stock Market Bear | 8 | 0 | |
| Mixed Result | 6 | 3 | |
| Totals | 27 | 6 | |
The US Stock Market Week 27 Summary:
On Monday the US stock exchanges were closed in observance of the Federal Holiday for Independence Day/4th of July. The Stock Market Bear set the tone for the shortened Week 27 by charging into the DJIA and S&P500 on Tuesday, but The Stock Market Bull countered with a record close on the NASDAQ. On Wednesday it was all The Stock Market Bull with record closes for the NASDAQ and S&P500. This made The Stock Market Bear angry. He charged back with a vengeance on Thursday inflicting major wounds in all 3 stock indices and was poised to sweep Week 27. Many experts opined that this might be the start of the long awaited “correction.” But The Stock Market Bull fooled everyone with a huge Friday, broke closing records on all 3 indices, his second trifecta on consecutive Fridays. In a give and take week The Stock Market Bull gets the Week 27 3-0 victory.
Summary News Items for Week 27:
- The US economy continued to show positive results with the Services Sector showing continued growth in some key surveys.
- Hurricane Elsa hit Florida, became a tropical storm, with high winds and dumping rain along the East coast of the US.
- The US Dept of Defense cancelled the $10 billion JEDI contract that had been awarded to Microsoft. Litigation by Amazon on the bidding process would have taken a long time. The plan is to break it up into several pieces with contract awards going to multiple vendors.
- China took some major actions on its public stocks.
- OPEC could not come to a decision on short term oil production.
- US job openings were at a record 9.2 million.
- The Federal Open Market Committee released the minutes of its most recent meeting. Some of the discussions involved when to start tapering bond purchases.
- Consumer credit rose nearly 10% as Americans start spending again.
- US weekly initial job claims were at 373,000 in early July, nearing pre-pandemic levels.
- The average 30 year fixed rate mortgage dropped to 2.90% with 0.6 points/fees.
- Alphabet’s Google Play Store is being sued by 36 US states for alleged antitrust violations.
- US wholesale inventories were up 1.3% in May.
- Bond yields stabilized by the end of the week.
- US President Biden signed an executive order that targets some big business practices.
- The Delta variant of COVID-19 continues to spread, especially in Asia and Africa.
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