January 4 - 8, 2021 Recap
Equities Post Back-to-Back Weekly Gains
U.S. stocks advanced for a second straight week with all three major equity indices finishing at record highs as Wall Street focused on prospects for trillions more in additional stimulus, overshadowing the Democratic sweep in Congress amid chaos and death at the U.S. Capital. Following Friday’s first negative payrolls report since April, President-elect Joe Biden announced his call for a third major fiscal stimulus package, including $2,000 stimulus payments.
For the week, the S&P 500 advanced 1.88%, the Dow Industrials gained 1.61%, and the tech-heavy Nasdaq Composite rallied 2.45%. Moreover, the small cap-focused Russell 2000 Index surged 5.93%.
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.
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