Daily Market Update for 8/2

Despite being at a historically high level, Manufacturing activity data was lower than the previous month and lower than expectations. The result was a failed morning rally that took indexes higher before selling off in the afternoon. The only positive holding back more selling was the progress of the Infrastructure bill in congress.

Market Week in Review – 7/26/2021 – 7/30/2021

This week’s story has many parts, including Chinese stocks, Earnings Reports, the Infrastructure Bill, and a two-day Fed meeting which all ended with advances in small-caps and gains in commodity prices. Each made its influence felt across the market as investors shifted to respond to the implications of each.

Sector Winners and Losers week ending 7/30

Materials ( XLB ) was the top sector of the week as manufacturing and core durable goods data showed increase demand and was confirmed in consumer spending numbers. The growth in the sector was matched by increased prices in metal commodities required to support economic expansion.

Daily Market Update for 7/29

GDP growth was less than expected this morning while employment data confirmed the Fed’s message that there is still more work to do in the economic recovery. That wasn’t necessarily a bad thing for equities, as it means economic support will continue for some time.

Daily Market Update for 7/28

Investors survived another Fed meeting with stocks gaining after the Fed left monetary policy untouched but confirmed the economy is still on track and inflation appears transitory. Small caps and growth stocks soared while only a few of the SPDR sectors registered gains.

Daily Market Update for 7/27

Earnings reports releasing this week have been very positive, but investors are already looking beyond the reports to expectations for the second half of the year. With mounting fears around the new Delta variant of COVID and potential changes in monetary policy by the Fed, the major indexes retreated today.

Daily Market Update for 7/26

Small caps had a volatile start to the week, gaining on Monday morning and losing those gains by mid-day. Still, the gains were enough for all the major indices to advance today as investors look forward to a massive earnings week.

Market Week in Review – 7/19/2021 – 7/23/2021

This week ended much better than it began. All indications at the market open on Monday were that we were going to have a bearish week. The CNN Fear & Greed indicator was in the Extreme Fear range, and the put/call ratio was nearing 0.9. Worries about the new delta strain putting new pressures on the economic recovery sent investors into defensive sectors.