Stock Market Quarterly Update - April through June 2021
- July 4, 2021
The second quarter began with stocks making solid gains in April. COVID vaccines became available to more Americans. The federal government and several states pushed forward with reopening after relaxing many of pandemic-related constraints. Economic data was favorable and encouraging. Overall, the second quarter was a good one for equities. The Nasdaq gained 9.5%, followed closely by the S&P 500 (8.2%), the Global Dow (4.9%), the Dow (4.6%), and the Russell 2000 (4.1%). Real estate, information technology, energy, and communication services all posted quarterly gains of more than 10.0% to lead the market sectors. Year to date, the Russell 2000 is well ahead of its 2020 year-end closing value, followed by the Global Dow, the S&P 500, the Dow, and the Nasdaq. The yield on 10-year Treasuries fell 30 basis points. Crude oil prices increased $14.17 per barrel, or 24.0%, in the second quarter. The dollar lost nearly 1.0%, while gold prices advanced 3.6%. The national average retail price for regular gasoline was $3.091 per gallon on June 28, up from the May 31 price of $3.027 and 8.4% higher than the March 29 selling price of $2.852.
While the Federal Reserve continues to preach patience when it comes to rising inflationary pressures, other countries may not be waiting to respond. The Bank of Mexico increased its interbank rate 25 basis points to 4.25%, citing the jump in the U.S. Consumer Price Index. On the other hand, the Bank of England held its monetary policy stance unchanged, with the bank rate at 0.1%.
SPENCER NURSE
Title:FINANCIAL ADVISOR, MANAGING DIRECTOR-INVESTMENTS
The Nurse Team has more than 50 years of combined experience in financial planning strategies. As of May 2021, the Team manages over $200 million in client assets. The team focuses on risk-adjusted investment management when assisting clients in addressing their retirement, educational, and philanthropic goals. Spencer and his team take direct responsibility of investment management for client portfolios. In the evolving markets and changes in clients’ lives, the team focuses on creating value based strategies that are tailored to client’s specific situation at various stages in life.
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