Stock Market Weekly Update - May 24, 2021
- May 24, 2021
Stocks closed the week generally lower, with only the Nasdaq eking out a gain, in what proved to be a volatile week of trading. The Dow dropped 0.5%, followed by the S&P 500, the Russell 2000, and the Global Dow. The yield on 10-year Treasuries closed unchanged from the prior week. The dollar and crude oil prices fell, while the price of gold rose by 2.0%. Inflation fears, cryptocurrency volatility, and concerns that the Fed could tighten monetary policy appear to be driving much of the market lately. Despite this movement, the benchmark indexes remain well ahead of their respective prior-year values, led by the Global Dow, the Russell 2000, the Dow, the S&P 500, and the Nasdaq.
Since the beginning of the year, crude oil prices are up more than 31.0%, which has driven gas prices up by more than $1.00 per gallon.
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 goal based strategies that are tailored to client’s specific situation at various stages in life.
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