September 20-24, 2021 Recap
Stocks Post Winning Week
Despite the turmoil in global markets last week, all three major U.S. equity indexes ended positive on the week, albeit fractionally. Investors largely shook off volatility concerns stemming from the Fed’s policy announcement to begin a stimulus pullback “soon” (likely to be announced in November), contagion risks associated with China’s distressed Evergrande Group and Beijing’s smackdown on cryptocurrencies. On a closing basis from Friday, the S&P 500 still has not experienced a 5%+ pullback from its most recent September 2 peak and thus the current bull market remains the ninth longest rally since World War II.
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