Stock Market Weekly Update - March 15, 2021
- March 15, 2021
Investors generally preferred cyclicals and value stocks over tech shares last week. Nevertheless, stocks ended the week higher, with each of the benchmark indexes gaining at least 2.5%, led by the Russell 2000, followed by the Dow, the Global Dow, the NASDAQ, and the S&P 500. Year to date, the Russell 2000 is up nearly 20.0%, and the Global Dow is more than 10.0% ahead of its 2020 closing value. A sell-off of tech stocks has kept the NASDAQ somewhat in check. Among the sectors, real estate and consumer discretionary each gained 5.7% for the week, while both utilities and materials advanced 4.4%. Crude oil prices and the dollar pulled back a bit, while gold prices enjoyed a weekly advance for the first time in nearly a month.
Investors, spurred on by President Biden's signing of the $1.9 trillion stimulus package, pushed both the S&P 500 and the Dow to record highs last Thursday.
SPENCER NURSE
Title:FINANCIAL ADVISOR, MANAGING DIRECTOR-INVESTMENTS
The Nurse Team has more than 50 years of combined experience in financial planning strategies. 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 goal based strategies that are tailored to client’s specific situation at various stages in life.
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