March 22 - 26, 2021 Recap
U.S. stocks posted solid gains last week with the Dow Industrials and S&P 500 finishing at new record highs on renewed optimism over widening vaccinations and business reopenings. Investors welcomed a decision by the Federal Reserve to end its buyback and dividend restrictions on banks. Meanwhile, the global shortage of semiconductors worsened, and President Biden doubled his goal for vaccinations in his first 100 days in office to 200 million.
Solid Gains for Big Board Stocks
For the week, the S&P 500 advanced 1.58%, the Dow Industrials added nearly 445 points (+1.36%) and the tech-concentrated Nasdaq Composite fell 0.57% for a second week of small losses. The small cap-focused Russell 2000 declined 2.88%, while Small Cap Value fell 2.45%, trimming its leader-board year-to-date gain to 21.93%.
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.
Want more insights like this, sent straight to your inbox?
Subscribe to email updates from Cetera and be well informed about what’s happening within the market and the financial services industry overall.