The Week 35 of 2021 US Stock Market  News Recap

In Week 35 of 2021 The Stock Market Bull establishes 4 new record closes for the NASDAQ, but loses every day on the DJIA, ends up with a 2-1 mixed win result.

By Larry C. Paxton

The US Stock Market Week 35 Summary:

The Stock Market Bear took all 5 days of the DJIA, albeit by small margins. The Stock Market Bull countered with 4 record closes on the NASDAQ, Tuesday the loss by only 6.65(-0.04%) points. The tiebreaker was the S&P500, with The Stock Market Bull getting record closes on Monday and Thursday and also winning Wednesday, with minimal losses on Tuesday and Friday. Bottom line, The Stock Market Bull achieves a 2-1 mixed win result in Week 35 of 2021.

Summary News Items for Week 35:

US Economy News

• Friday, September 3, 2021

• The US Dept of Labor says the August 2021 US Available Labor Force is at 161,537,000, Employed is at 153,154,000, Unemployed 8,383,000, for an August 2021 US Unemployment Rate of 5.2%, July was at 5.4%, June 5.9%, August 2020 8.4%, August 2019 3.7%.
• The Institute for Supply Management says the August 2021 US Services PMI Index(>50 Economy is growing) is at 61.7%, July was at 64.1%, June 60.1%, August 2020 56.9%, August 2019 56.4%. “… growth remains strong for the services sector. The tight labor market, materials shortages, inflation and logistics issues continue to cause capacity constraints….”
• IHS Markit says the August 2021 US Composite PMI Output Index is at 55.4, July was at 59.9, June 63.7, August 2020 54.6, August 2019 50.7. “Growth slowed sharply in the US service sector in August, joining the manufacturing sector in reporting a marked cooling in demand and encountering growing problems finding staff and supplies. Jobs growth almost stalled among the surveyed companies in August and supplier lead times are lengthening at a near record rate….”

• Thursday, September 2, 2021

• The US Dept of Labor says the Revised 2Q21 US Business Sector Labor Productivity Output/Hr-All Persons is at +2.4%, 1Q21 was at +4.2%, 4Q20 -4.2%, 2Q20 +10.2%, 2Q19 +4.3%.
• The US Dept of Commerce/Census says the Preliminary July 2021 US Trade Exports-Goods is at $148.6 billion, Services $64.2 billion, making July 2021 US Trade Exports Total at $212.8 billion; Preliminary July 2021 US Trade Imports-Goods is at $236.3 billion, Services $46.6 billion, making July 2021 US Trade Imports Total at $282.9 billion, making the July 2021 US Trade Deficit Total at $70.1 billion, June was at $73.2 billion, May $68.6 billion, July 2020 $50.7 billion, July 2019 $50.1 billion.
• The US Dept of Commerce/Census says the Preliminary July 2021 US Manufacturers Orders-Durables is at $257.8 billion, Non-Durables $250.7 billion, making the July 2021 US Manufacturers Orders Total at $508.5 billion, June was at $500.7 billion, May $491.4 billion, July 2020 $452.6 billion, July 2019 $476.1 billion.

• Wednesday, September 1, 2021

• ADP says the Preliminary August 2021 US Change In Unemployment-Private Sector-Small Businesses is at +86,000, Mid-Sized 149,000, Large-Sized 138,000, for August 2021 US Change in Unemployment-Private Sector of +373,000, July was at +326,000, June +691,000, August 2020 +429,000, August 2019 +195,000.
• The US Dept of Commerce/Census says the Preliminary July 2021 US Construction Spending-Residential Annual Rate is at $782.1 billion, Non-Residential $786.7 billion, for US July 2021 Total US Construction Spending Annual Rate at $1,568.8 billion, June was at $1,563.5 billion, May $1,564.2 billion, July 2020 $1,439.6 billion, July 2019 $1,366.0 billion.
• The Institute for Supply Management August 2021 US Manufacturing PMI Index(>50% Economy is expanding) is at 59.9%, July was at 59.5%, June 60.6%, August 2020 56.0%, August 2019 49.1%. “Business Survey Committee panelists reported that their companies and suppliers continue to struggle at unprecedented levels to meet increasing demand. All segments of the manufacturing economy are impacted by record-long raw-materials lead times, continued shortages of critical basic materials, rising commodities prices and difficulties in transporting products. The new surges of COVID-19 are adding to pandemic-related issues — worker absenteeism, short-term shutdowns due to parts shortages, difficulties in filling open positions and overseas supply chain problems — that continue to limit manufacturing-growth potential. However, optimistic panel sentiment remained strong, with eight positive comments for every cautious comment.”
• The IHS Markit August 2021 US Manufacturing PMI Index is at 61.1, July was at 63.4, June 62.1, August 2020 53.1, August 2019 50.3. “US goods producers continued to register marked upturns in output and new orders in August, as demand flourished once again. That said, constraints on production due to material shortages exerted further pressure on capacity as backlogs of work rose at a near-record rate….”

• Tuesday, August 31, 2021

• The US Dept of the Treasury says on 08/27/21 the US National Debt-Public is at $22.244 trillion, Intragovernmental $6.184 trillion, for 08/27/21 US Total National Debt of $28.428 trillion, 07/30/21 was also at $28.428 trillion, 06/30/21 $28.530 trillion, 08/31/20 $26.703 trillion, 08/31/19 $22.467 trillion.
• The US Dept of the Treasury says at the close on 08/31/21 the US Treasury 10 Year Notes Yield was at 1.30%, 07/30/21 was at 1.24%, 06/30/21 1.45%, 08/31/20 0.72%, 08/31/19 1.50%.
• The S&P CoreLogic Case-Shiller Preliminary June 2021 US National Home Price Index(Jan2000=100) is at 260.87, May was at 255.30, April 249.61, June 2020 219.94, June 2019 210.71; the June 2021 US National Home Price Index change from June 2020 is at +18.6%. “We have previously suggested that the strength in the U.S. housing market is being driven in part by reaction to the COVID pandemic, as potential buyers move from urban apartments to suburban homes. June’s data are consistent with this hypothesis. This demand surge may simply represent an acceleration of purchases that would have occurred anyway over the next several years. Alternatively, there may have been a secular change in locational preferences, leading to a permanent shift in the demand curve for housing. More time and data will be required to analyze this question.”
• The Conference Board says the Preliminary August 2021 US Consumer Confidence Index(1985=100) is at 113.8, July was at 125.1, June 128.9, August 2020 86.3, August 2019 134.2. “While the resurgence of COVID-19 and inflation concerns have dampened confidence, it is too soon to conclude this decline will result in consumers significantly curtailing their spending in the months ahead.”
• The MNI Indicators Preliminary August 2021 Chicago Business Barometer Index(>50 = economy expanding) is at 66.8, July was at 73.4, June 66.1, August 2020 51.2, August 2019 50.4. “Firms say the available supply of raw materials and workers isn’t sufficient to keep up with new orders.”
• The American Automobile Assn says that on 08/31/21 the US Average Price/Gallon of Regular Gas is at $3.159, 07/30/21 was at $3.168, 06/30/21 $3.118, 08/31/20 $2.233, 08/30/19 $2.580.

• Monday, August 30, 2021

• No US economic news releases today.

US Government/Other

• The US completes its civilian and military withdrawal from Afghanistan on August 30.
• The Delta variant of the COVID-19 virus continues to spread and cause deaths at high levels.
• Hurricane Ida hits New Orleans, during the week moves up to the Northeast US with high winds and dumping lots of rain along the way causing some deaths and severe floods, especially in New Jersey, Pennsylvania and New York, expected to become the most costly natural disaster in the US.
• Jobs reports by ADP and the US Dept of Labor fall significantly below forecasts.
• The US Social Security Administration says it will be unable to provide full benefits in 2034, one year earlier than forecast last year.
• Medicare says the hospital insurance fund will be depleted by 2026, or at the same time as predicted in 2020.
• The Texas legislature passes the most restrictive abortion law in the US, banning abortions after 6 weeks. The US Supreme Court says it will not block the law, that it was not ruling on the constitutionality of the law and did not mean to limit “procedurally proper challenges” to it.
• US President Biden to declassify some documents related to the 09/11 attack.
• The Dixie fire in California has consumed 860,000 acres over 50 days, the Caldor fire continues to threaten the Lake Tahoe area, other fires continue in the Western US states.

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