Stock Market Weekly Update - September 20, 2021
- September 20, 2021
Stocks have generally retreated in September on concerns that the Delta variant is slowing the economy's rebound and that the markets, which had been surging, may be primed for a decline. The benchmark indexes generally lost ground for the second consecutive week, with only the Russell 2000 able to close the week in the black. Ten-year Treasury yields climbed 3 basis points last week, the dollar climbed higher, and crude oil prices increased $2.34 per barrel. Among the market sectors, only consumer discretionary (0.5%) and energy (3.3%) advanced. The remaining sectors lost value, led by materials (3.2%) and utilities (3.1%).
The Consumer Price Index rose 0.3% in August after rising 0.5% in July. Over the last 12 months ended in August, consumer prices have advanced 5.3%. The index less food and energy rose 0.1% in August, its smallest increase since February 2021. Price increases in gasoline (2.8%), household furnishings and operations (1.3%), food (0.4%), and shelter (0.2%) contributed to the overall CPI increase in August.
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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