Stock Market Weekly Update - November 15, 2021
- November 15, 2021
Although equities closed last week on a high note, it wasn't enough to recover from mid-week losses. Each of the benchmark indexes lost ground, with the Russell 2000 falling over 1.0% to lead the pack. Inflation concerns seemed to weigh on investors' minds during the week. While the Federal Reserve continues to suggest that inflationary pressures will calm by next year, traders may be concerned that if prices continue to rise, the Fed may consider hiking interest rates as soon as the summer of 2022. Ten-year Treasury yields edged higher. The dollar advanced, while crude oil prices fell to $80.84 per barrel. Gold prices rose for the second consecutive week, jumping nearly 2.7%. Materials led the market sectors, climbing 2.5% for the week. Consumer discretionary (-3.2%), energy (-1.7%), and utilities (-1.0%) fell the furthest.
Inflation data for October was hotter than expected. Over the last 12 months ended in October, consumer prices have risen 6.2% — the largest 12-month increase since November 1990.
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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