October 18-22, 2021 Recap
Earnings Season Continues Strong U.S. stocks climbed higher last week with the broad-market S&P 500 posting a third weekly gain. Equity appetites were bolstered on optimism surrounding solid corporate earnings however gains were capped by comments from Fed Chairman Powell saying supply-chain constraints have worsened, hastening further inflation risks ahead. Meanwhile disagreements on tax increases and healthcare proposals intensified, with Democrats now racing to finalize their social and climate policy framework deals as well as meeting an October 31 deadline to vote on a separate infrastructure bill.
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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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