Jobs Data Sooths Fed Fears07/06/2021

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June 28 - July 2, 2021 Recap

Equities Extend Record-Setting Gains
U.S. stocks wrapped up another bountiful week with the S&P 500 closing Friday at its seventh consecutive all-time high, a double feat not seen since 1997. Wall Street participants heralded a Goldilocks job report that topped consensus forecasts, but the unemployment rate edged 0.1% higher to 5.9%. The data boosted investor confidence that the Federal Reserve will not rush to raise rates or taper monthly asset purchases anytime soon.

For the Week...
The S&P 500 rallied 1.71% last week, the Dow Industrials added 1.02% and the tech-heavy Nasdaq Composite climbed 1.96%. Large cap equities outperformed relative to small caps with the Russell 2000 retreating nearly 1.2%. Large cap growth performed best, up 2.41%.

For more insights, download our full recap.

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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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