Home   Logon   Mobile Site   Research and Commentary   About Us   Call 1.800.621.1675 or Email Us       Follow Us: 

Search by Ticker, Keyword or CUSIP       
 
 
 
Blog Home
Bob Carey
Chief Market Strategist
Click for Bio

Follow Bob on Twitter Follow Bob on LinkedIn View Videos on YouTube
 

  US Stock Markets Ended Nov. 12, 2021
Posted Under: Weekly Market Commentary
Supporting Image for Blog Post

 
After five straight weeks of gains, the S&P 500 Index posted a -0.27% return last week. The index has gained 26.21% YTD with all but two months in 2021, January and September, posting positive returns. Wednesday's release of the October CPI numbers put downward pressure on equities with energy and information technology taking the largest lumps. Both MoM and YoY CPI came in higher than expected, increasing concern that the Federal Reserve may speed up tapering and act sooner than expected in raising rates. Equities recovered some of their losses later in the week with information technology and materials rising the most. Inflation concerns are also affecting consumer sentiment, declining to levels not seen since 2011 and adding another variable for equity investors to consider. U.S. initial jobless claims of 267K were above the 260K expected, but lower than the previous week's 269K. Claims have continued to decline since peaking in early April and are approaching pre-pandemic levels. Crude oil closed at $80.79 per barrel on Friday, declining 59 basis points for the week. The cost of crude has climbed 66.51% YTD, helping energy post the best sector performance thus far in 2021 with the S&P 500 Energy Index returning 57.93% YTD. However, last week materials was the best performing sector with the S&P 500 Materials Index returning 2.57%. Strong performance from materials' stocks included Freeport-McMoRan Inc., CF Industries Holdings Inc., International Flavors & Fragrances Inc., and Newmont Corp. Electric truck maker Rivian Automotive Inc., which IPO'd at $78 per share last week, jumped 66.60% through Friday. The company is now worth more than both Ford Motor Company and General Motors Company with a market capitalization over $100 billion, making it the largest US company without revenue. Johnson & Johnson announced the spin-off of its consumer health business to focus on its pharmaceutical and medical devices businesses, creating two separate companies. Earnings announcements expected this week include NVIDIA Corp, Walmart Inc., The Home Depot Inc., Cisco Systems Inc., Lowe's Companies Inc., and many more. 
Posted on Monday, November 15, 2021 @ 8:10 AM • Post Link Share: 
Print this post Printer Friendly

These posts were prepared by First Trust Advisors L.P., and reflect the current opinion of the authors. They are based upon sources and data believed to be accurate and reliable. Opinions and forward looking statements expressed are subject to change without notice. This information does not constitute a solicitation or an offer to buy or sell any security.
Search Posts
MARKET ANALYSIS
Market Commentary and Analysis
Market Commentary Video
Weekly Market Commentary
Weekly Market Watch
Monthly Talking Points
Quarterly Newsletter
Market Observations
Subscribe To Receive Email
 


 PREVIOUS POSTS
US Economy and Credit Markets Ended Nov. 12, 2021
A Snapshot of Growth vs. Value Investing
A Snapshot Of Growth vs. Value Investing (Small-Caps)
US Stock Markets Ended Nov. 5, 2021
US Economy and Credit Markets Ended Nov. 5, 2021
A Snapshot Of The U.S. Dollar
Sector Performance Via Market Cap. (2020 Bear Market & New Bull Market)
US Stock Markets Ended Oct. 29, 2021
US Economy and Credit Markets Ended Oct. 29, 2021
A Snapshot Of Materials Stocks
Archive
Skip Navigation Links.
Search by Topic
Skip Navigation Links.

 
The information presented is not intended to constitute an investment recommendation for, or advice to, any specific person. By providing this information, First Trust is not undertaking to give advice in any fiduciary capacity within the meaning of ERISA, the Internal Revenue Code or any other regulatory framework. Financial professionals are responsible for evaluating investment risks independently and for exercising independent judgment in determining whether investments are appropriate for their clients.
First Trust Portfolios L.P.  Member SIPC and FINRA. (Form CRS)   •  First Trust Advisors L.P. (Form CRS)
Home |  Important Legal Information |  Privacy Policy |  California Privacy Policy |  Business Continuity Plan |  FINRA BrokerCheck
Copyright © 2022 All rights reserved.