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. 5, 2021
Posted Under: Weekly Market Commentary
Supporting Image for Blog Post

 
The S&P 500 Index returned 2.03% last week after closing Friday at all-time highs. Equities rallied on positive economic data and strong corporate earnings. The reopen trade rallied Friday after Pfizer Inc. announced results on a new therapeutic for COVID-19, which reduced hospitalizations and deaths by 89% for unvaccinated patients. They planned on submitting Bourla for FDA authorization by Thanksgiving lifting their stock 10.86% on Friday. Predictably this sent other COVID vaccine and treatment names down as Moderna Inc. returned -16.56%, Merck & Co. Inc. -9.86% and Johnson & Johnson -0.71%. Reopen names that rallied Friday were Expedia Group Inc. returning 15.63%, Live Nation Inc. 15.14%, Royal Caribbean Cruise LTD 8.95% and United Airlines Inc. 7.26%. Last week earnings season reached full tilt after 183 names in the S&P 500 announced quarterly results. QUALCOMM Inc. returned 22.54% after they announced earnings and revenue above expectations and boosted guidance for next quarter. Their positive outlook has been fueled by greater access to chip supply, giving the general market hope that the semiconductor crunch might be easing. Networking solutions company Arista Networks Inc. rallied 29.50% after announcing strong revenue and earnings along with a large stock buyback. They expressed that visibility has improved in their supply of chips and they increased their guidance moving forward. Not all earnings announcements were positive. Popular video game company Activision Blizzard Inc. fell 13.25% after announcing earnings and revenue inline with expectations but revealed that they would delay releasing Diablo IV and Overwatch 2 because of talent retention issues. Peloton Interactive Inc. fell 35.35% on Friday after announced earnings and revenue that missed earnings and slashed their expectations going forward because they had underestimated the impact of reopening on their business. Looking ahead to next week earnings season is winding down as 20 names in the S&P 500 are expected to report. Notable names expected to report include Berkshire Hathaway Inc., The Walt Disney Co., PayPal Inc., Johnson Controls Holdings.
Posted on Monday, November 8, 2021 @ 8:19 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. 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
The Price Of Crude Oil Has Surged During The COVID-19 Pandemic
US Stock Markets Ended Oct. 22, 2021
US Economy and Credit Markets Ended Oct. 22, 2021
Passive vs. Active Fund Flows
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.