March 8 - 12, 2021 Recap
Rotation to Value Continues
U.S. stocks broadly rallied last week with gains driving the Dow Industrials and S&P 500 to fresh all-time highs, while the Nasdaq Composite rebounded to snap a three-week losing streak. The Nasdaq closed Friday about 5.5% below its February 12 record high. Mostly tame inflation readings offered relief to anxious investors, while the passage of President Biden’s signature $1.9 trillion coronavirus relief package, including $1,400 checks for millions of Americans, boosted optimism.
For the week, the S&P 500 gained 2.69%, the Dow Industrials jumped 4.07%, and the tech-heavy Nasdaq Composite advanced 3.12%. The small cap-focused Russell 2000 surged 7.36%, while Small cap Value stocks performed best, up 8.03%.
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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