September 13-17, 2021 Recap
Narrow Losses for Stocks
The three major U.S. equity indexes all had modest weekly declines with the Dow Jones Industrial Average not able to eke out a gain. Economic data released last week showed retail sales unexpectedly rising, while jobless claims and consumer sentiment missed expectations. Chinese stocks retreated on Friday as the largest property developer there may be struggling to make interest payments this week to its borrowers. This has investors concerned about China’s broader real estate market and the trickle-down impact for a possible default. The company has $305 billion in total obligation.
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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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