July 12 - 16, 2021 Recap
Equities Decline from Record Levels
After finishing the prior week at all-time highs, all three major U.S. equity indices finished this past week lower. Concerns around the Delta variant resurfaced as mask mandates in parts of the country are beginning to be implemented once again. Inflation was also a concern as economic data released last week confirmed these concerns. Companies have started to release second quarter earnings, so attention may shift to these releases this week.
For the Week...
The S&P 500 fell 0.96% last week, the Dow Industrials dropped 0.52% and the tech-heavy Nasdaq Composite shed 1.87%. Mid cap stocks retreated 2.81% for the week, while the small cap-focused Russell 2000 fell 5.11%.
The Weekly Recap is published by Cetera Investment Management LLC, an SEC registered adviser owned by Cetera Financial Group. Cetera Investment Management provides market perspectives, portfolio guidance, model management, and other investment advice to its affiliated broker-dealers, dually registered broker-dealers and registered investment advisers.
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