The Week 50 of 2021 US Stock Market News Recap

By Larry C. Paxton

The US Stock Market Week 50 Summary:

After his victory last week, The Stock Market Bull decided to reward himself by going Christmas shopping during Week 50. Predictably, The Stock Market Bear was quick to notice. On Monday he charged into undefended pasture and took a big bite out of the livestock. Although not as severe, he was able to repeat this on Tuesday. On Wednesday The Stock Market Bull returned to the pasture to watch on his new big TV screen Federal Reserve Chairman Powell‘s comments following the two day  Federal Open Market Committee meeting. The reassuring words resulted in an easy daily win for The Stock Market Bull, who departed for more holiday shopping on Thursday. Once again, The Stock Market Bear saw his chance and pounced on some more livestock to take the day, with the NASDAQ being particularly affected. This continued on Friday with the DJIA taking the major blood letting for the day. The Stock Market Bear takes Week 50 with a 3-0 clear result, taking 12 of the 15 sessions across the three major US stock indices, and everyone wondering if The Stock Market Bear should really be called The Stock Market Grinch.

US Stock Market Indices Summary
Week 50 of 2021 Ending 12/17/21
	DJIA	NASDAQ	S&P500
Previous Year Close(12/31/20)	30,606.48	12,888.28	3,756.07
Previous Quarter Close(09/30/21	33,843.92	14,448.58	4,307.54
Previous Month Close(11/30/21)	34,483.72	15,537.69	4,567.00
Record Close Date	11/08/21	11/19/21	12/10/21
Record Close	36,432.22	16,057.44	4,712.02
Week 49-Friday & Close(12/10/21)	35,970.99	15,630.60	4,712.02
Week 50-Monday(12/13/21)	35,650.95	15,413.28	4,668.97
Day Change	(320.04)	(217.32)	(43.05)
Day % Change	-0.89%	-1.39%	-0.91%
Week 50-Tuesday(12/14/21)	35,544.18	15,237.64	4,634.09
Day Change	(106.77)	(175.64)	(34.88)
Day % Change	-0.30%	-1.14%	-0.75%
Week 50-Wednesday(12/15/21)	35,927.43	15,565.58	4,709.85
Day Change	383.25	327.94	75.76
Day % Change	1.08%	2.15%	1.63%
Week 50-Thursday(12/16/21, Holiday)	35,897.64	15,180.43	4,668.67
Day Change	(29.79)	(385.15)	(41.18)
Day % Change	-0.08%	-2.47%	-0.87%
Week 50-Friday & Close(12/17/21)	35,365.44	15,169.68	4,620.64
Day Change	(532.20)	(10.75)	(48.03)
Day % Change	-1.48%	-0.07%	-1.03%
Change-Week	-605.55	-460.92	-91.38
% Change-Week	-1.68%	-2.95%	-1.94%
Change-Month-to-Date	881.72	(368.01)	53.64
% Change-Month-to-Date	2.56%	-2.37%	1.17%
Change-Quarter-to-Date	1,521.52	721.10	313.10
% Change-Quarter-to-Date	4.50%	4.99%	7.27%
Change-Year-to-Date	4,758.96	2,281.40	864.57
% Change-Year-to-Date	15.55%	17.70%	23.02%
Change-Record	(1,066.78)	(887.76)	(91.38)
% Change-Record	-2.93%	-5.53%	-1.94%
The Stock Market Bull and Bear Tallies 2021 YTD
Week 50 Winner and Tally	Bear	3-0	Win
November Winner and Tally	Bear	2-1	Mixed Win
	Weeks	Months	YTD
The Stock Market Bull	23	6	Winning
The Stock Market Bear	18	1	Losing
Mixed Result	9	4
Totals	50	11

Summary News Items for Week 50:

US Economic News

• Friday, December 17, 2021

• ***No economic news releases.

• Thursday, December 16, 2021

• The US Dept of Labor says the 3Q21 US Average Employer Costs for Employee Compensation/Hour-Wages & Salaries is at $27.35, Benefits $12.20, making 3Q21 US Average Employer Costs for Employee Compensation/Hour Total at $39.55, 2Q21 was at $38.91, 1Q21 $39.02, 3Q20 $38.26, 3Q19 $37.03.
• The US Dept of Commerce/HUD says the Preliminary November 2021 US New Construction Private Housing Permits Issued Annual Rate is at 1,712,000, October was at 1,653,000, September 1,586,000, November 2020 1,696,000, November 2019 1,510,000.
• The US Federal Reserve says that the Preliminary November 2021 US Industrial Production Capacity is at 76.8%, 2.8% below its long-run (1972–2020) average, October was at 76.5%, September 75.3%, November 2020 73.9%, November 2019 77.6%.
• The US Federal Reserve Bank of Philadelphia says the December 2021 US 3rd District Manufacturing General Activity Indicator is at +15.4, November was at +39.0, October +23.8, December 2020 +9.1, December 2019 +0.9. “The survey’s future general activity and new orders indexes moderated, but the surveyed firms remained generally optimistic about growth over the next six months.”

• Wednesday, December 15, 2021

• The US Federal Open Market Committee 12/15/21 Statement for its 12/14-15/21 meeting says, “The path of the economy continues to depend on the course of the virus. Progress on vaccinations and an easing of supply constraints are expected to support continued gains in economic activity and employment as well as a reduction in inflation. Risks to the economic outlook remain, including from new variants of the virus… the Committee decided to keep the target range for the federal funds rate at 0 to 1/4 percent… the Committee decided to reduce the monthly pace of its net asset purchases by $20 billion for Treasury securities and $10 billion for agency mortgage-backed securities. Beginning in January, the Committee will increase its holdings of Treasury securities by at least $40 billion per month and of agency mortgage‑backed securities by at least $20 billion per month….”
• The US Dept of Commerce/Census says the Preliminary October 2021 US Sales-Manufacturers is at $523.4 billion, Retailers $565.2 billion, Wholesalers $620.5 billion, making October 2021 US Sales Total at $1,709.1 billion, September was at $1,674.4 billion, August $1,655.2 billion, October 2020 $1,464.0 billion, October 2019 $1,450.1 billion.
• The US Dept of Commerce/Census says the Advance November 2021 US Monthly Retail Sales-Retailers is at $566.1 billion, Food Services & Drinking Places $73.7 billion, making November 2021 US Monthly Retail Sales Total at $639.8 billion, October was at $638.2 billion, September $627.0 billion, November 2020 $541.2 billion, November 2019 $525.3 billion.
• The US Dept of Labor says the Preliminary November 2021 US Monthly Change in Import Prices is at +0.7%, Export Prices +1.0%, the November Last 12 Months Change in Import Prices is at +11.7%, Exports +18.2%.
• The Natl Assn of Home Builders/Wells Fargo Preliminary December 2021 Housing Market Composite Index(>50 conditions are good) is at 84, November was at 83, October 80, December 2020 86, December 2019 76. “The most pressing issue for the housing sector remains lack of inventory… Building has increased but the industry faces constraints, namely cost/availability of materials, labor and lots. And while 2021 single-family starts are expected to end the year 24% higher than the pre-Covid 2019 level, we expect higher interest rates in 2022 will put a damper on housing affordability.”
• The US Federal Reserve Bank of New York says the December 2021 Empire State General Business Conditions Index is at 31.9, November was at 30.9, October 19.8, December 2020 4.9, December 2019 3.3. “… firms remained optimistic that conditions would improve over the next six months, though optimism is still lower than it was in the fall.”

• Tuesday, December 14, 2021

• The US Dept of Labor says the Preliminary November 2021 US Produce Price Index Monthly Final Demand is at +0.8%, October was at +0.6%, September +0.6%, November 2020 +0.0%, November 2019 -0.1%; November 2021 US Produce Price Index Last 12 Months Final Demand is at +9.6%, October was at +8.8%, September +8.8%, November 2020 +0.8%, November 2019 +1.0%.
• CoreLogic says the September 2021 US Housing Mortgages 30 or More Days Delinquent are at 3.9%, August was at 4.0%, July 4.2%, September 2020 6.3%, September 2019 3.9%. “The economic recovery has pushed down the percent of delinquent borrowers to the lowest level since the pandemic began. The number of borrowers past due on their mortgage doubled between March and May 2020. The past due rate in September 2021 was the lowest since March 2020.”

• Monday, December 13, 2021

• ***No economic news releases.

US Government/Other News

• The US Congress passes(Senate 50-49, House 221-209, both by party lines) and US President Biden signs into law a $2.5 trillion increase to around $31.4 trillion the US debt ceiling, to be effective into 2023, avoids possible problems during the 2022 midterm elections.
• US President Biden acknowledges that it might take a few more weeks to get his $1.75 trillion social spending and climate mitigation “Build Back Better Act” bill through the US Senate.
•  The US COVID-19 pandemic death toll passes 800,000, number of cases passes 50,000,000, the Omicron variant is starting to spread across the US.
• Last late Friday and into Saturday many tornadoes hit several central and southern US states causing 80+ deaths and widespread destruction.
• Tesla Motors’ CEO/Founder Elon Musk is named Time magazine’s “Person of the Year.”

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