April 12 - 16, 2021 Recap
Stock Climb Fourth Straight Week
The S&P 500 extended gains into a fourth straight week, backed by a strong start to the first quarter earnings season and better-than-expected economic data. Investors cheered an outsized gain in retail sales and monthly housing starts that surged 19.4% to a 15-year high annualized pace. Treasury yields fell amid the data showing continued signs for U.S. and global economic recovery.
New Equity Milestones
For the week, the S&P 500 climbed 1.39%, the Dow Industrials rose 1.18% and the Nasdaq Composite Index gained 1.10%. In new milestones for the week, the Dow eclipsed the 34,000 level for the first time in history, taking less than a month after reaching 33,000 on March 17. Meanwhile, the S&P 500 set three new record highs and is up 5.4% in April.
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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