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 Feb. 12, 2021
Posted Under: Weekly Market Commentary
Supporting Image for Blog Post

The S&P 500 touched record highs last week as stocks finished up by almost 1%. Smaller market cap names in the Russell 2000 outperformed their larger cap peers by besting the group with a 2.3% return. Asset prices across multiple classes also rallied last week. Oil surpassed its 2020 high closing at almost $60 per barrel. Bitcoin also continues to climb as the cryptocurrency surpassed $47,000 with corporate players such a Tesla and Mastercard embracing the emerging mainstream appeal. Optimism backed by a fresh round of stimulus and a boosted vaccine rollout has market participants looking for these catalysts to manifest into more positive returns for stocks. Impeachment proceedings in the Senate took shape as both sides aired their cases with help from powerful videos taken from during the presidential campaigns. An acquittal of the former President was the most likely outcome as 17 Republicans must join their Democrat and independent colleges to convict President Trump. On Saturday, after a vote to consider possible witnesses in the trial, the Senate acquitted the former President with a 57-43 vote. The quick end to the trial allows Democrats to move forward on their legislative agenda. Tweets in the news and the banning of influential newsmakers boosted Twitter's fourth quarter earnings and propelled the stock higher by over 26% last week. The company also announced a $24 million dollar Bitcoin fund to develop the adoption of the cryptocurrency initially in Africa and India. Most of the companies in the S&P 500 have reported quarterly earnings and 82% have beat earnings estimates compared to 72% last year. On the top line, revenues beat estimates 66% of the time compared to only 38% a year ago. Looking ahead to a holiday shortened week, the FOMC meeting minutes are set to be released on Wednesday followed by housing starts and initial jobless claims later in the week.
Posted on Tuesday, February 16, 2021 @ 8:11 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 Commentary and Analysis
Market Commentary Video
Weekly Market Commentary
Weekly Market Watch
Monthly Talking Points
Quarterly Newsletter
Market Observations
Subscribe To Receive Email

US Economy and Credit Markets Ended Feb. 12, 2021
Technology Stocks Have Delivered Strong Returns Since The End Of The Financial Crisis-Induced Bear Market
A Snapshot Of Growth vs. Value Investing (Small-Caps)
US Stock Markets Ended Feb. 5, 2021
US Economy and Credit Markets Ended Feb. 5, 2021
Assets Held By Equity ETFs And Equity Mutual Funds Have Surged
The Great Rotation Out Of Bond Mutual Funds Never Happened
US Stock Markets Ended Ended January 29, 2021
US Economy and Credit Markets Week Ended January 29, 2021
A Snapshot Of Stock Performance Relative To Historical U.S. Inflation Rates
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.