Paring Record Highs08/02/2021

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July 26 - 30, 2021 Recap

Stocks Nudge Lower
All three major U.S. equity indices got haircuts last week, with the S&P 500 fluttering near record highs on Friday but reversed gains to close out the week fractionally lower. Investors grew cautious as Delta variant caseloads and hospitalizations intensified (including among some fully vaccinated), threatening to delay progress of the U.S. recovery. China’s tightening grip on its technology and interest businesses also weighed on investor sentiment, along with a key U.S. online retailer’s revenue miss.

For the Week...
The S&P 500 fell 0.35% in the last week of July, the Dow Industrials echoed with a 0.36% decline while the tech-heavy Nasdaq Composite fell 1.10%.

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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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