The PBR1000 for April: Workers Needed to Re-Open

The April 2021 breaking news items of interest for The PBR1000 follow with the most current date first.

***Friday, April 30

US Stock Indices Summary
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
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.

Daily Economic News:

The US Dept of the Treasury says the 04/27/21 US National Debt-Public is at $21.943 trillion, Intragovernmental $6.169 trillion, making 04/27/21 US Total National Debt at $28.112 trillion, 03/31/21 was at $28.081 trillion, 02/28/21 $28.005 trillion, 04/30/20 $24.975 trillion. PR link.

The US Dept of Commerce/BEA says the Preliminary March 2021 US Personal Income Annual Rate is at $24.208 trillion, February 2021 was at $19.995 trillion, January 2021 $21.498 trillion, March 2020 $18.764 trillion. PR link.

The US Dept of Labor says the 1Q21 US Employee Cost Index for All Civilian Workers(12/2005=100) is at 143.7, 4Q20 was at 142.4, 3Q20 141.1, 1Q20 140.0. PR link.

The U of Michigan Final April 2021 Consumer Sentiment Index is at 88.3, March 2021 was at 84.9, February 2021 76.8, April 2020 71.8. “… Overall, the data indicate an exceptional outlook for consumer spending through mid-2022. The size and persistence of the spending gains depend on continued job growth as well as wages that effectively draw people back into the labor force.” PR link.

The US Federal Reserve Bank of Chicago says the Preliminary March 2021 US 7th District Midwest Economy Index is at +0.65, February 2021 was at +0.50, January 2021 +0.65, March 2020 -0.68. “Index points to a pickup in Midwest growth through March.” PR link.

MNI Indicators/ISM-Chicago says the Preliminary April 2021 Chicago Business Barometer Index(>50 is gaining> is at +72.1, March 2021 was at +66.4, February 2021 +59.5, April 2020 +35.4. PR link.

The American Automobile Assn says the 04/30/21 US Average Price/Gallon of Regular Gas is at $2.895, 03/31/21 was at $2.874, 02/26/21 $2.699, 04/30/20 $1.772. PR link.

***Thursday, April 29

Daily Economic News:

The US Dept of Commerce/BEA says the 1Q21 Advance Estimate of the Real Gross Domestic Product Annual Rate is at +6.4%, $22.049 trillion, 4Q20 was at +4.3%, $21.495 trillion, 3Q20 +33.4%, $21.170 trillion, 1Q20 -5.0%, $21.561 trillion. PR link.

The US Dept of Labor says on 04/24/21 the US Weekly Initial Unemployment Insurance Claims is at 553,000, the 4 Week Moving Average is at 611,750; the 04/17/21 US Total Insured Unemployment is at 3,660,000, the 4 Week Moving Average is at 3,684,000; the 04/17/21 Insured Unemployment Rate is at 2.6%. PR link.

FreddieMac says on 04/29/21 the US Weekly Average 30 Year Fixed Mortgage Rate is at 2.98% with 0.7 fees/points, 03/25/21 was at 3.17%, 02/25/21 2.97%, 04/30/21 3.23%. “In light of the rising COVID caseloads globally, U.S. Treasury yields stopped moving up a month ago and have remained within a narrow range as the market digests incoming economic data. The good news is that with rates under three percent, refinancing continues to be attractive for many borrowers who financed before 2020. But, for eager buyers, especially first-time homebuyers, inventory continues to be extremely tight and competition for available homes to purchase remains high.” PR link.

***Wednesday, April 28

Daily Economic News:

The US Federal Reserve Open Market Committee issues a statement from its 04/27-28/21 meeting, agrees to maintain short term interest rates at 0.00-0.25%, “will continue to increase its holdings of Treasury securities by at least $80 billion per month and of agency mortgage‑backed securities by at least $40 billion per month…,” says “The COVID-19 pandemic is causing tremendous human and economic hardship across the United States and around the world. Amid progress on vaccinations and strong policy support, indicators of economic activity and employment have strengthened. The sectors most adversely affected by the pandemic remain weak but have shown improvement. Inflation has risen, largely reflecting transitory factors. Overall financial conditions remain accommodative, in part reflecting policy measures to support the economy and the flow of credit to U.S. households and businesses.” PR link.

The ADP Quarterly Workforce Vitality Report says the 1Q21 US Wage Growth is at +5.9%, +3.3% from 1Q20, Wage Level is at $30.84/hour, +$1.71 from 1Q20, Employment Growth is at -7.0%, -7.7% from 1Q20, and Turnover Rate is 82.2%, +14.9% from 1Q20. “The labor market recovery is gaining momentum. Progress in the fight against the COVID-19 pandemic is fueling economic improvement and the impact is evident as jobs gains pick up.” PR link.

The US Energy Information Administration says for the Week Ending 04/23/21 the US Crude Oil Stocks(Millions of Barrels) is at 493.1, on 03/26/21 it was at 501.8, 02/19/21 463.0, 04/24/20 527.6. PR link.

***Tuesday, April 27

Daily Economic News:

The Conference Board says the Preliminary April 2021 US Consumer Confidence Index(1985=100) is at 121.7, March 2021 was at 109.0, February 2021 90.4, April 2020 85.7. “Consumers’ assessment of current conditions improved significantly in April, suggesting the economic recovery strengthened further in early Q2. Consumers’ optimism about the short-term outlook held steady this month. Consumers were more upbeat about their income prospects, perhaps due to the improving job market and the recent round of stimulus checks. Short-term inflation expectations held steady in April, but remain elevated. Vacation intentions posted a healthy increase, likely boosted by the accelerating vaccine rollout and further loosening of pandemic restrictions.” PR link.

The US Dept of Commerce/HUD says the 1Q21 US Total Housing Units are at 141,533,000 with a Home Ownership Rate of 65.6%, 4Q20 was at 141,241,000 and 65.8%, 3Q20 140,949,000 and 67.4%, 1Q20 140,365,000 and 65.3%. PR link.

S&P CoreLogic Case-Shiller says the Preliminary February 2021 US National Home Price Index(01/2000=100) is at 238.82, January 2021 was at 236.33, December 2020 234.32, February 2020 213.29. “These data remain consistent with the hypothesis that COVID has encouraged potential buyers to move from urban apartments to suburban homes. This demand may represent buyers who accelerated purchases that would have happened anyway over the next several years. Alternatively, there may have been a secular change in preferences, leading to a permanent shift in the demand curve for housing. Future data will be required to analyze this question.” PR link.

The US Federal Reserve Bank of Richmond says the April 2021 US 5th District Manufacturing Sector Surveys Index is at +17%, March 2021 was at +17%, February 2021 +14%, April 2020 -53%. “Survey responses indicated supply constraints, with the backlog of orders and vendor lead time indexes registering historic highs. Meanwhile, inventories shrank as the indexes for inventories of finished goods and raw materials reached their lowest values on record. Manufacturers were optimistic that conditions would continue to improve in the coming months.” PR link.

The US Federal Reserve Bank of Richmond says the April 2021 US 5th District Service Sector Surveys Revenue Index is at +22%, March 2021 was at +16%, February 2021 +6%, April 2020 -87%. “Firms … reported improving local business conditions and increased capital spending. Survey participants were optimistic that conditions would continue to improve in the next six months.” PR link.

TrueCar says the Forecast April 2021 US Unit New Auto Sales-Retail is at 1,259,036, Fleet is at 143,098, making April 2021 US Unit New Auto Sales at 1,402,134, March 2021 was at 1,604,983, February 2021 1,196,008, April 2020 710,827; Forecast April 2021 US Unit New Auto Average Transaction Price is at $37,144, March 2021 was at $37,215, February 2021 $37,780, April 2020 $37,161. “April of last year was the first full month of COVID-19’s impact on the day-to-day lives of Americans and the economy, and saw vehicle sales plummet to the lowest point during the pandemic. Despite the inventory challenges that linger, seeing total and retail sales up nearly 100% in one year is a hopeful and exciting milestone for the auto industry and economy…” PR link.

***Monday, April 26

Daily Economic News:

No items to report.

***Friday, April 23

Weekly US Stock Indices News:

US Stock Market Indices Summary
Week 16 of 2021 Ending Friday, 04/23/21
	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	02/12/21	04/16/21
Record Close	34,200.67	14,095.47	4,185.47
Week 15 Close	34,200.67	14,052.34	4,185.47
Week 16 Close	34,043.49	14,016.81	4,180.17
Percent Change-Week	-0.46%	-0.25%	-0.13%
Percent Change-Month	3.22%	5.81%	5.22%
Percent Change-Quarter	3.22%	5.81%	5.22%
Percent Change-YTD	11.23%	8.76%	11.29%
Percent Change-Record	-0.46%	-0.56%	-0.13%
The Stock Market Bull vs The Stock Market Bear Tallies YTD
Week 16 Winner and Tally	Bear	3-0
	Weeks	Months	YTD
The Stock Market Bull	8	2	Ahead
The Stock Market Bear	5	0
Mixed Result	3	1
Totals	16	3

US Stock Exchanges Week 16 Summary:

The Stock Market Bull has been on a winning streak since Week 12. The Stock Market Bear had had enough and angrily started out Week 16 by making some good sized gashes on all 3 major US indices on Monday and Tuesday. The Stock Market Bull made a determined response by taking Wednesday. But The Stock Market Bear returned with a vengeance on Thursday. The Stock Market Bull charged back on Friday, achieved some new intraday record highs for the DJIA and S&P500, but as the day came to a close he became weary and lost some ground. He won the day, but was unable to overcome The Stock Market Bear‘s lead for the week. Week 16 goes to The Stock Market Bear 3-0, his first clear win since Week 11.

Week 16 News Summary:

Coronavirus Pandemic: As of today, Friday, 04/23/21, at 6:20PM Eastern US, the John Hopkins University CSSE unit says there are now 145,261,836 confirmed cases globally with 3,082,775 deaths. For the US it is 31,990,519 confirmed cases and 574,179 deaths. Vaccinations are occurring at the rate of around 3 million doses per day. Today the pause on the Johnson & Johnson’s vaccine was lifted. States continue to open up more. There are continuing concerns about variants, which have affected other countries, but so far have not had a major impact in the US. Vaccination programs continue to expand. US Federal Government: President Biden continues to push for an infrastructure plan and is meeting with lawmakers from both sides of the aisle to try to come up with a plan that can pass. During a meeting on climate change that included several nations President Biden pledged to lower US greenhouse gases by 50% by 2030. President Biden also proposed a nearly 40% capital gains tax on households with more than $1 million in annual incomes. US Economy: The annual existing home sales rate fell 3.7% in March to 6.01 million and reached new highs for the median home price. New family home sales increased nearly 21% in March to a 1.02 million annual rate. 30 year fixed mortgage rates dropped to just below 3% again. US initial jobless claims fell to 547,000, a new post-pandemic low. Business and consumer surveys continue to show optimism over the next few months. Corporate Business: 1Q20 corporate earnings reports continue to be mixed, but guidance is cautiously optimistic, assuming the COVID-19 pandemic comes to an end sometime in the summer. Society: Former Minneapolis police officer Derek Chauvin was found guilty on all counts for the killing of George Floyd by kneeling on his neck for around 9 minutes. International News: . There were surges in COVID-19 infections globally.

Daily Economic News:

The US Dept of Commerce/HUD says the Preliminary March 2021 US New Family Homes Sold Annual Rate is at 1,021,000 units, February 2021 was at 846,000, January 2021 1,010,000, March 2020 612,000; the March 2021 Median New Home Price is at $330,800, February 2021 was at $345,900, January 2021 $362,200, March 2020 $328,200. PR link.

***Thursday, April 22

Daily Economic News:

The US Federal Reserve Bank of Chicago says the Preliminary March 2021 US Current National Activity Index is at +1.71, February 2021 was at -1.20, January 2021 +1.10, March 2020 -4.47. “Index suggests economic growth rebounded in March.” PR link.

The Conference Board says the Preliminary March 2021 US Leading Economic Index(2016=100) is at 111.6, February 2021 was at 110.3, January 2021 110.2, December 2020 109.7. “The improvement in the U.S. LEI, with all ten components contributing positively, suggests economic momentum is increasing in the near term. The widespread gains among the leading indicators are supported by an accelerating vaccination campaign, gradual lifting of mobility restrictions, as well as current and expected fiscal stimulus…” PR link.

The Natl Assn of Realtors says the Preliminary March 2021 US Existing Home Sales Annual Rate is at 6,010,000 units, February 2021 was at 6,240,000, January 2021 6,660,000, March 2020 5,350,000; March 2021 Median Sales Price is at $329,100, February 2021 was at $313,000, January 2021 $303,900, March 2020 $280,700. PR link.

***Wednesday, April 21

Daily Economic News:

No items to report.

***Tuesday, April 20

Daily Economic News:

The US Federal Reserve Bank of Philadelphia says the April 2021 US 3rd District Nonmanufacturing Current General Activity Index is at +36.3, March 2021 was at +27.4, February 2021 +5.2, April 2020 -96.4. “The respondents continued to anticipate growth over the next six months.” PR link.

***Monday, April 19

Daily Economic News:

No items to report.

***Friday, April 16

The US Stock Exchanges Recap for Week 15 of 2021 ending Friday, 04/16/21:

DJIA ends Week 15 at record 34,200.67, +1.18% from last Friday, +3.70% MTD/QTD, +11.74% YTD, +0.00% from record 34,200.67 set 04/16/21.

NASDAQ ends Week 15 at 14,052.34, +1.09% from last Friday, +6.08% MTD/QTD, +9.03% YTD, -0.31% from record 14,095.47 set 02/12/21.

SPX ends Week 15 at record 4,185.47, +1.37% from last Friday, +5.35% MTD/QTD, +11.43% YTD, +0.00% from record 4,185.47 set 04/16/21.

US Stock Exchanges Week 15 of 2021 News Summary:

The Stock Market Bear wanted to set the tone for Week 15 so came out Monday with a lot of loud angry growling. The intimidation worked as he took all 3 major US indices. But The Stock Market Bull struck back on Tuesday with an excellent day on the NASDAQ and taking the S&P500. The Stock Market Bear countered on Wednesday by wiping out those gains. With great determination The Stock Market Bull bounced back on Thursday and Fridays with consecutive record days on the DJIA and S&P500 and near a new record for the NASDAQ. The Stock Market Bull‘s strong end of Week 15 gives him a 3-0 victory, his 3rd week in a row, a nice lead year-to-date, and a lot of optimism in the stock market as the US economy continues to strengthen.

The Week 15 of 2021 tally YTD is:

 

• The Stock Market Bull: 8 weeks
• The Stock Market Bear: 4 weeks
• Mixed Results: 3 weeks

 

Daily Economic News:

The US Dept of Commerce/HUD says the Preliminary March 2021 US New Residential Building Permits Annual Rate is at 1,766,000 units, February 2021 was at 1,720,000, January 2021 1,886,000, March 2020 1,356,000. PR link.

The U of Michigan Preliminary April 2021 US Consumer Sentiment Index is at 86.5, March 2021 was at 84.9, February 2021 76.8, April 2020 71.8. “Consumers in early April reported surging economic growth and strong job gains due to record stimulus spending, low interest rates, and the positive impact of vaccinations.” PR link.

***Thursday, April 15

Daily Economic News:

The US Federal Reserve says the Preliminary March 2021 US Industrial Production Capacity is at 74.4%, February 2021 was at 73.4%, January 2021 75.3%, March 2020 73.6%. PR link.

The US Dept of Commerce/Census says the Preliminary February 2021 US Sales-Manufacturers are at $502.4 billion, Retailers $508.9 billion, Wholesalers $538.3 billion, making February 2021 Total US Sales at $1,549.6 billion, January 2021 was at $1,579.2 billion, December 2020 $1,498.0 billion, February 2020 $1,466.6 billion. PR link.

The US Dept of Commerce/Census says the Advance March 2021 US Retail Sales-Retailers is at $557.7 billion, Food Services & Drinking Places is at $62.2 billion, making Advance March 2021 US Total Retail Sales at $619.9 billion, February 2021 was at $563.7 billion, January 2021 $579.6 billion, March 2020 $484.7 billion. PR link.

The US Federal Reserve Bank of New York says the April 2021 Empire State Manufacturing General Business Conditions Index is at +26.3, March 2021 was at +17.4, February 2021 +12.1, April 2020 -78.2. PR link.

The US Federal Reserve Bank of Philadelphia says the April 2021 US 3rd District Manufacturing General Activity Indicator is at +50.2, March 2021 was at +44.5, February 2021 +23.1, April 2020 -46.8. “The survey’s future indexes indicate that firms remain optimistic about growth over the next six months.” PR link.

The Natl Assn of Home Builders/Wells Fargo Preliminary April 2021 Housing Market Composite Index is at +83, March 2021 was at +82, February 2021 +84, April 2020 +30. “Strong buyer demand pushed builder confidence up in April even as builders continued to grapple with rising lumber prices and supply chain issues and consumers faced higher home prices due to a lack inventory.” PR link.

***Wednesday, April 14

Daily Economic News:

The US Federal Reserve releases the Beige Book for data through 04/05/21, says “National economic activity accelerated to a moderate pace from late February to early April… Outlooks were more optimistic than in the previous report, boosted in part by an acceleration in COVID-19 vaccinations.” PR link.

The US Dept of Labor says the Preliminary March 2021 US Import Price Index is at +1.2%, February 2021 was at +1.3%, January 2021 +1.4%, March 2020 -2.4%, Last 12 Months +6.9%; the Preliminary March 2021 US Export Price Index is at +2.1%, February 2021 was at +1.6%, January 2021 +2.6%, March 2020 -1.4%, Last 12 Months +9.1%. PR link.

***Tuesday, April 13

Daily Economic News:

The US Dept of Labor says the Preliminary March 2021 US Current Average Earnings/Hour is at $29.96, Average Hours Worked/Week is at 34.9 making Average Weekly Earnings Per Hour at $1,045.60, February was at $1,038.00, January 2021 $1,047.20, March 2020 $980.03. PR link.

The US Dept of Labor says the March 2021 US Consumer Price Index-Urban is at +0.6%, February 2021 was at +0.4%, January 2021 +0.3%, March 2020 -0.4%, the March 2021 Last 12 Months is at +2.6%, February 2021 was at +1.7%, January 2021 +1.4%, March 2020 +1.5%. PR link.

CoreLogic says the January 2021 US Housing Mortgages 30 Days or More Delinquent is at 5.6%, December 2020 was at 5.8%, November 2020 5.9%, January 2020 3.5%. “While delinquency rates are higher than we would like to see, they continue to decline. At the same time, foreclosure rates remain at historic lows. This is a good sign, and considering the improving picture regarding the pandemic and climbing employment rates, we are looking at the potential for a strong year of recovery.” PR link.

***Monday, April 12

The PBR1000 March 2021 Top 5 Stocks Snapshots is an overview of stocks performance, 5 tables of Top 5 stock performers, and a stocks & commodities indices summary. PR link.

Daily Corporate News:

Microsoft(PBR15 $MSFT) to acquire cloud and AI software leader representing decades of accumulated healthcare and enterprise AI experience Nuance Communications(NASDAQ: NUAN) for $56.00 per share, implying a 23% premium to the closing price of Nuance on Friday, 04/09/21, or around $19.7 billion cash, inclusive of Nuance’s net debt, to close by 12/31/21. PR link.

IBM(PBR40 $IBM) says Kyndryl will be the name of the new, independent company that will be created following the separation of its Managed Infrastructure Services business, will be headquartered in New York, NY, will have 4,600 global customers, to close by the end of 2021. PR link.

Ameriprise Financial(PBR246 $AMP) to acquire BMO Financial Group’s EMEA asset management business for approximately $845 million cash, adds $124 billion of AUM in Europe, to close in 4Q21. PR link.

PSEG(PBR309 $PEG) completes acquisition of 25% ownership interest from Orsted N America in 1,100 megawatt Ocean Wind project, New Jersey’s first offshore wind farm, could provide power by end of 2024. PR link.

Avantor(PBR423 $AVTR) to acquire Schwabmünchen, Germany based privately held robotic and liquid handling consumables manufacturer Ritter GmbH for around $1.05 billion cash, to close in 3Q21. PR link.

Ingersoll-Rand(PBR809 $IR) to sell its Specialty Vehicle Technologies Segment (“Club Car”) to global private equity firm Platinum Equity for $1.68 billion cash, to close in 3Q21. PR link.

Daily Economic News:

The US Dept of the Treasury says the March 2021 US Federal Government Receipts are at $267.6 billion, Outlays $927.2 billion, making the March 2021 US Federal Deficit at $659.6 billion, February 2021 Deficit was at $310.9 billion, January 2021 Deficit $162.8 billion, March 2020 Deficit $119.0 billion; the March 2021 US Federal Deficit YTD(6 months) is at $1,706.2 billion, March 2020 Federal Deficit YTD was at $743.5 billion. PR link.

***Friday, April 9

The US Stock Exchanges Recap for Week 14 of 2021 ending Thursday, 04/09/21:

DJIA ends Week 14 at record 33,800.60, +2.20% from last Friday, +2.48% MTD/QTD, +10.44% YTD, +0.00% from record 33,800.60 set 04/09/21.

NASDAQ ends Week 14 at 13,900.19, +5.80% from last Friday, +4.93% MTD/QTD, +7.85% YTD, -1.39% from record 14,095.47 set 02/12/21.

SPX ends Week 13 at record 4,128.80, +3.88% from last Friday, +3.92% MTD/QTD, +9.92% YTD, +0.00% from record 4,128.80 set 04/09/21.

US Stock Exchanges Week 14 of 2021 News Summary:

Week 14 opened with a long 3 day well rested The Stock Market Bull confidently charging into the pasture and achieving new record highs on the DJIA and S&P500, and an excellent assault on the NASDAQ. The overwhelmed The Stock Market Bear showed up on Tuesday, took all 3 indices by thin margins. The Stock Market Bull then dominated the rest of the Week 14, easily gets his second week in a row 3-0 victory and strengthens his lead Year-To-Date. The reasons are pretty clear. The economy is showing a strong desire to grow, COVID-19 vaccinations are being administered at a quick rate, many states and business sectors are re-opening, the stimulus programs are being implemented, a new infrastructure program is being introduced, there seems to be an increasing trust in the Federal Reserve and the US Dept of the Treasury to be helpful, and there is less rancor and contentiousness in the federal government with the new administration. The question for Week 15 is to see if The Stock Market Bull has the momentum to get his first third week in a row win of 2021!

The Week 14 of 2021 tally YTD is:

 

• The Stock Market Bull: 7 weeks
• The Stock Market Bear: 4 weeks
• Mixed Results: 3 weeks

 

Daily Corporate News:

Johnson Controls(PBR126) to acquire Edmonton, Alberta, Canada based 3,000 employees Silent-Aire, a family owned global leader in hyperscale data center cooling and modular critical infrastructure solutions with expected revenues of $650 million in 12 months ending in 05/21, for up to $870 million cash, including an upfront payment of approximately $630 million and additional payments for milestone achievements, to close by 06/30/21. PR link.

BJ’s Wholesale(PBR229 $BJ) President/CEO Lee Delaney has passed away unexpectedly due to presumed natural causes, EVP/Chief Admin Officer/CFO Bob Eddy named Interim CEO, Chairman Christopher J. Baldwin appointed Executive Chairman, both effective immediately. PR link.

Daily Economic News:

The US Dept of Labor says the Preliminary March 2021 US Producer Price Index is at +1.0%, February 2021 was at +0.5%, January 2021 +1.3%, March 2020 -0.5%; March 2021 Producer Price Index-Last 12 Months is at +4.2%, February 2021 was at +2.8%, January 2021 +1.7%, March 2020 +0.3%. PR link.

The US Dept of Commerce/Census says the Preliminary February 2021 US Wholesale Sales-Durables is at $259.4 billion, Non-Durables $278.9 billion, making February 2021 US Wholesale Sales-Total at $682.5 billion, January 2021 was at $678.2 billion, December 2020 $653.2 billion, February 2020 $669.0 billion. PR link.

***Thursday, April 8

Daily Corporate News:

CommScope(PBR345 $COMM) to spin off its Home Networks business as an independent public company, to be completed by end of 1Q22. PR link.

KKR(PBR576 $KKR) to make a $500 million investment in cloud content management platform provider Box(NYSE: BOX), to close in 05/21. PR link.

Hologic(PBR607 $HOLX) to acquire $42 million in revenues in 2020 Mobidiag Oy, a privately held, commercial-stage Finnish-French developer of innovative molecular diagnostic tests and instrumentation, for an enterprise value of approximately $795 million, includes a cash payment of approximately $714 million for Mobidiag’s equity, and net debt of approximately $81 million, to close by 09/30/21. PR link.

GameStop(PBR422 $GME) nominates 6 candidates to be elected at annual meeting on 06/09/21, includes Chewy founder Ryan Cohen who is expected to be elected Chairman by the Board following the annual meeting. PR link.

Daily Economic News:

No items today.

***Wednesday, April 7

Daily Corporate News:

Target(PBR36 $TGT) commits to spend more than $2 billion with Black-owned businesses by the end of 2025. PR link.

MetLife(PBR47 $MET) completes $3.94 billion cash sale of its Metropolitan Property and Casualty Insurance Company and certain wholly owned subsidiaries to Farmers Group, Inc. (FGI), a subsidiary of Zurich Insurance Group, includes 10-year strategic partnership through which Farmers Insurance® will offer products on MetLife’s leading US Group Benefits platform. PR link.

XPO Logistics(PBR186 $XPO) is recruiting for more than 1,400 positions across N America to meet growing demand for its less-than-truckload (LTL) services, as the economy rebounds from COVID-19. PR link.

AMD(PBR301 $AMD) $143/share, around $35 billion, acquisition of FPGA and Adaptive SoCs innovator and developer Xilinx(PBR686 $XLNX) gets approval by shareholders of both companies, to close by 12/31/21. PR link.

Daily Economic News:

The US Federal Reserve says the Preliminary February 2021 US Consumer Credit Outstanding-Revolving is at $974.4 billion, Non-Revolving $3,231.4 billion, making February 2021 US Consumer Credit Outstanding-Total at $4,205.8 billion, January 2021 was at $4,178.2 billion, December 2020 $4,178.1 billion, February 2020 $4.208.9 billion. PR link.

The US Federal Open Market Committee releases its Minutes from the 03/16-17/21 meeting. “The Committee decided to keep the target range for the federal funds rate at 0 to 1/4 percent and expects it will be appropriate to maintain this target range until labor market conditions have reached levels consistent with the Committee’s assessments of maximum employment and inflation has risen to 2 percent and is on track to moderately exceed 2 percent for some time.” PR link.

The US Dept of Commerce/Census says the February 2021 US Exports-Goods is at $131.1 billion, Services $56.1, making February 2021 US Exports-Total at $187.2 billion; February 2021 US Imports-Goods is at $219.1 billion, Services $39.2 billion, making February 2021 US Imports-Total at $258.3 billion, making February 2021 Deficit at $71.1 billion, January 2021 Deficit was at $67.8 billion, December 2021 Deficit $67.0 billion; February 2021 YTD Deficit(2 months) is at $138.9 billion, February 2020 YTD Deficit was at $82.4 billion. PR link.

FannieMae says the March 2021 Home Purchase Sentiment Index is at 81.7, February 2021 was at 76.5, January 2021 77.7, March 2020 80.8. “The significant increase in the HPSI in March reflects consumer optimism toward the housing market and larger economy as vaccinations continue to roll out, a third round of stimulus checks was distributed, and the spring homebuying season began – perhaps with even more intensity this year, since 2020’s spring homebuying season was limited by virus-related lockdowns…” PR link.

***Tuesday, April 6

Daily Corporate News:

General Motors(PBR19 $GM): First-Ever Chevrolet Silverado Electric Pickup and GMC HUMMER EV SUV to be Built at GM’s Factory ZERO Plant.

Genworth Financial(PBR335 $GNW) has exercised its right to terminate its merger agreement with China Oceanwide Holdings Group Co., Ltd. as of 04/06/21, will pursue revised strategic plan.

Signet Jewelers(PBR440 $SIG) has acquired Rocksbox, an innovative jewelry rental subscription platform, giving it a significant foothold in a growing online service that speaks to next-generation jewelry customers, terms not disclosed.

Brink’s(PBR612 $BCO) has acquired PAI, Inc., the largest privately-held provider of ATM services in the US, for $213 million, expected to generate $320 million in annual revenues.

Greenbrier(PBR764 $GBX) has completed the formation of GBX Leasing, a special purpose subsidiary, to own and manage a portfolio of leased railcars primarily built by Greenbrier; GBX Leasing will acquire approximately $200 million per annum of newly-built and leased railcars from Greenbrier.

Daily Economic News:

The US Dept of Labor says the Preliminary February 2021 US Job Openings-Private is at 6,732,000, Government 635,000, making February 2021 US Job Openings-Total at 7,367,000, January 2021 was at 7,099,000, December 2020 6,753,000, February 2020 7,012,000. PR link.

The PurdueU/CME Group March 2021 US Ag Economy Barometer Composite Index is at 177, February 2021 was at 165, January 2021 167, March 2020 121. “The barometer’s rise was virtually all attributable to farmer’s improved expectations for the future… The improvement in future expectations occurred even though producers are becoming increasingly pessimistic that the trade dispute with China will be resolved in a way that’s beneficial to U.S. agriculture.” PR link.

***Monday, April 5

Daily Corporate News:

Alphabet(PBR9)’s Google: Supreme Court Rules for Google in Long Copyright Fight With Oracle(PBR77). MarketWatch news link.

Sempra Energy(PBR267) to sell a non-controlling, 20% interest in Sempra Energy’s new business platform, Sempra Infrastructure Partners, to KKR(PBR576) for $3.37 billion in cash, to close in mid 2021.

Icahn Enterprises(PBR409) moving its headquarters to Florida, President/CEO Keith Cozza decides to not move, is stepping down from roles and as a director, IEP hiring Aris Kekedjian, the former Chief Investment Officer of General Electric Company (GE), as President/CEO, will also become member of the Board. PR link.

Daily Economic News:

The US Dept of Commerce/Census says the Preliminary February 2021 US New Orders-Durables is at $254.1 billion, Non-Durables $251.6 billion, making February 2021 US Total New Orders at $505.7 billion, January 2021 was at $509.7 billion, December 2020 $496.3 billion, February 2020 $496.5 billion. PR link.

The Institute for Supply Management says the March 2021 Services PMI Index(>50 economy growing) is at 63.7%, February 2021 was at 55.3%, January 2021 58.7%, March 2020 52.5%. “The Services PMI® registered an all-time high of 63.7 percent… The March reading indicates the 10th straight month of growth for the services sector, which has expanded for all but two of the last 134 months.” PR link.

IHS Markit says the March 2021 US Composite PMI Output Index is at 59.7, February 2021 was at 59.5, January 2021 58.7, March 2020 40.9. “The IHS Markit Composite PMI Output Index… signal(s) the fastest upturn in private sector business activity since August 2014. Although the expansion in manufacturing sector production eased, service providers registered a marked rise in output.” PR link.

***Friday, April 2

***Good Friday.
***US Stock Exchanges Closed.

Daily Corporate News:

Tesla(PBR94) produced just over 180,000 vehicles and delivered nearly 185,000 vehicles in 1Q21.

Daily Economic News:

The US Dept of Labor says the March 2021 Employed Labor Force is at 150,848,000, +609,000 from February 2021, -4,924,000 from March 2020; the March 2021 Unemployment Rate is at 6.0%, February 2021 was at 6.2%, March 2020 4.4%. “… improvements in the labor market reflect the continued resumption of economic activity that had been curtailed due to the coronavirus (COVID-19) pandemic. Job growth was widespread in March, led by gains in leisure and hospitality, public and private education, and construction.” PR link.

***Thursday, April 1

The US Stock Exchanges Recap for Week 13 of 2021 ending Thursday, 04/01/21:

DJIA ends Week 13 at 33,153.21, +0.24% from last Friday, +0.52% MTD/QTD, +8.32% YTD, -0.05% from record 33,171.37 set 03/29/21.

NASDAQ ends Week 13 at 13,480.11, +2.60% from last Friday, +1.76% MTD/QTD, +4.59% YTD, -4.37% from record 14,095.47 set 02/12/21.

SPX ends Week 13 at record 4,019.87, +1.14% from last Friday, +1.18% MTD/QTD, +7.02% YTD, +0.00% from record 4,019.87 set 04/01/21.

US Stock Exchanges Week 13 of 2021 News Summary:

Week 13 featured the end of March, the end of the 1st Quarter, the start of April, the start of the 2nd Quarter, and a Friday off for observing Good Friday, for a four day trading week. The Stock Market Bull started out the week with a new record high for the DJIA on Monday, but letting The Stock Market Bear have his way with the NASDAQ and S&P500. This encouraged the Bear who then took the hat trick on Tuesday. They traded places on Wednesday with The Bull recapturing the NASDAQ and S&P500, but didn’t have enough strength to keep the DJIA. On Thursday The Bear stayed in his cave to start dyeing Easter eggs, The Bull charged onto the pasture, took his trifecta for the week on Thursday, and established a new record high for the S&P500 while coming from behind to get a 3-0 Week 13 victory. With both now resting for 3 days it should make the first full week of April one to anticipate.

The Week 13 of 2021 tally YTD is:

 

• The Stock Market Bull: 6 weeks
• The Stock Market Bear: 4 weeks
• Mixed Results: 3 weeks

 

Daily Corporate News:

Merck(PBR65 $MRK) completes $1.85 billion in equity value acquisition of Pandion Therapeutics(Nasdaq: PAND), a clinical-stage biotechnology company developing novel therapeutics for patients living with autoimmune diseases. PR link.

CarMax(PBR142 $KMX) to acquire remaining stake it does not own in $140 million in 2020 revenues Edmunds, implies an enterprise value of $404 million, to close by 06/30/21. PR link.

IQVIA(PBR268 $IQV) acquires 40% minority share of Q2 Solutions from Quest Diagnostics(PBR313 $DGX) for $760 million, results in 100% ownership by IQVIA. PR link.

Alcoa(PBR319 $AA) completes around $670 million sale of its rolling mill business, held by Alcoa Warwick, to Kaiser Aluminum, has 1,170 employees, produces 310,000 metric tons of flat rolled aluminum annually. PR link.

Kemper(PBR500 $KMPR) completes $370 million cash acquisition of Downers Grove, IL based network of 500 independent agents and 110+ captive agents specialty private passenger auto insurance in 5 states provider American Access Casualty Company. PR link.

Ingersoll-Rand(PBR809 $IR) completes around $300 million cash sale of its majority interest in its High Pressure Solutions (HPS) Segment to private equity firm American Industrial Partners, retains a 45% common equity interest in the business. PR link.

Daily Economic News:

The US Dept of Commerce/Census says the Preliminary February 2021 US Construction Spending Annual Rate-Residential is at $727.4 billion, Non-Residential $789.5, making Preliminary February 2021 US Total Construction Spending Annual Rate at $1,516.9 billion, January 2021 was at $1,529.0 billion, December 2020 $1,510.3 billion, February 2020 $1,441.1 billion. PR link.

The Institute for Supply Management says the March 2021 US Manufacturing PMI Index(>50%=Economy expanding) is at 64.7%, February 2021 was at 60.8%, January 2021 58.7%, March 2020 49.1%. “This figure indicates expansion in the overall economy for the 10th month in a row after contraction in April… Optimistic panel sentiment increased, with eight positive comments for every cautious comment, compared to a 5-to-1 ratio in February.” PR link.

IHS Markit says the March 2021 US Manufacturing PMI Index is at 59.1, February 2021 was at 58.6, January 2021 59.2, March 2020 48.5. “With business expectations becoming even more optimistic in March, further strong production growth looks likely in the second quarter, but the big question will be whether rising price pressures also become more entrenched.” PR link.

***Wednesday, March 31

The US Stock Exchanges Recap for March 2021 ending 03/31/21:

DJIA ends March 2021 at 32,981.55, -0.28% from last Friday, +6.62% MTD, +7.76% QTD/YTD, -0.57% from record 33,171.37 set 03/29/21.

NASDAQ ends March 2021 at 13,246.87, +0.82% from last Friday, +0.41% MTD, +2.78% QTD/YTD, -6.02% from record 14,095.47 set 02/12/21.

SPX ends March 2021 at 3,972.89, -0.04% from last Friday, +4.24% MTD, +5.77% QTD/YTD, -0.04% from record 3,974.54 set 03/26/21.

US Stock Exchanges March 2021 News Summary:

The Stock Market Bull and The Stock Market Bear traded strong punches in the first week of March. But then The Stock Market Bull dominated with a lot of nice jabs during the second week. During weeks three and four the combatants traded punches. During the whole month The Stock Market Bear focused on the technology oriented NASDAQ, had some good rounds, but The Stock Market Bull managed to sneak ahead in the last week. The Stock Market Bull also established several new record highs for the DJIA and S&P500 during the month. The bottom line is that The Stock Market Bull takes a 3-0 victory for March and remains unbeaten in the first 3 months of 2021.

The March 2021 tally YTD(3 Months) is:

 

• The Stock Market Bull: 2 months
• The Stock Market Bear: 0 months
• Mixed Results: 1 month

 

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