March 29 - April 2, 2021 Recap
Stocks Climb Second Week
U.S. stocks extended gains last week amid expectations for a solid March payrolls report that was indicated higher by the largest monthly increase in private sector hiring in six months (+517,000). Meanwhile, Wall Street welcomed the release of President Biden’s $2.25 trillion infrastructure proposal, even as some participants support a more limited plan with spending solely directed to infrastructure and smaller tax hikes. Equity markets were closed Friday for the Good Friday holiday.
Nasdaq Composite Rebounds
For the week, the S&P 500 gained 1.16% to finish above its 4,000 milestone for the first time, the Dow Industrials nudged 0.24% higher and the tech-heavy Nasdaq Composite surged 2.61% to more than erase its 0.57% prior week loss. The small cap-focused Russell 2000 rose 1.50%, while Small Cap Growth advanced 2.20% and Small Cap Value rose 0.76%.
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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