Stock Market Weekly Update - August 16, 2021
- August 16, 2021
Stocks closed mostly higher last week, with only the Nasdaq unable to end in the black. The Dow and the S&P 500 each closed the week at record highs, buoyed by a strong corporate earnings season. Treasury yields finished the week where they began, crude oil prices fell for the second consecutive week, the dollar and gold prices weakened. Consumer staples, financials, materials, industrials, and utilities led the sectors. All the benchmark indexes listed here remain well above their 2020 year-end closing values. The S&P 500, up nearly 19.0% since the beginning of the year, has nearly doubled since the pandemic lows of March 2020, with the energy sector the biggest climber during that period.
Prices for U.S. imports increased 0.3% in July after advancing 1.1% the previous month. Much of the monthly increase in imports was driven by higher fuel prices. The July increase in imports was the smallest monthly advance since a 0.1% increase in November 2020.
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.
Contact Us