October 25-29, 2021 Recap
Earnings Season Continues Strong U.S. stocks climbed the last week in October, with the S&P 500 notching its longest weekly winning streak since April. Impressively, thanks to a stellar start to the third quarter earnings season, this year’s biggest pullback, a 5.2% drop from September 2 to October 4 – was fully recouped by October 20 (just 12 trading days). All three major U.S. equity indices ended the week and month at fresh all-time highs. The performance came despite earnings disappointments from two of the five-largest U.S. companies. This helps explain the Dow Industrial’s more muted gains last week.
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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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