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 June 11, 2021
Posted Under: Weekly Market Commentary

Markets were mixed for the week with growth pockets of the market leading the way, despite a higher-than-expected inflation reading for the month of May. The Consumer Price Index increased by 0.6% month-over-month and by 5% from a year ago. Traders sold the inflation news with cyclicals and value stocks falling for the week as some investors chalked up the higher reading to base effects and transitory supply chain issues. Shares of Caterpillar Inc. led the sell-off in reflation stocks, falling almost 10% for the week. Homebuilders were also weak due to fears of rising prices shrinking buyers and supply chain bottlenecks limiting new builds. Biotech posted strong performance on the back of Biogen Inc. receiving approval for its Alzheimer's drug. Shares of Campbell Soup fell after disappointing earnings on rising input costs and execution issues. High growth stocks moved higher for the week on positive commentary from corporate access events and lower bond yields with ServiceNow Inc., Adobe Inc., CrowdStrike Inc. and Cloudflare Inc. all moving higher by over 7%. Fastly Inc. initially fell after a service interruption caused many well-known websites to go offline briefly, however, shares recovered and rose by over 10% for the week. Looking ahead to next week, traders will closely follow the Federal Reserve meeting for clues on potential policy changes as economic growth accelerates and inflation increases. Additionally, how officials define "transitory" in respect to inflation and clues to when the Fed could start to taper will be watched. Risk assets have been in a goldilocks scenario with easy monetary policy and well-above trend economic growth that is likely to continue into 2022.  In our view, strong corporate fundamentals are likely to lead to more market gains with more economically sensitive parts of the market leading from here.
Posted on Monday, June 14, 2021 @ 8:03 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

US Economy and Credit Markets Ended June 11, 2021
A Snapshot Of The Growth In ETF/ETP Assets
A Snapshot of Growth vs. Value Investing
US Stock Markets Ended June 4, 2021
US Economy and Credit Markets Ended June 4, 2021
The Buy And Hold Investment Strategy Is Not Dead!
A Snapshot Of The U.S. Dollar
US Stock Markets Ended May 28, 2021
US Economy and Credit Markets Ended May 28, 2021
S&P 500 Index Dividend Payout Profile
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.