July 5 - 9, 2021 Recap
Equities Extend Record-Setting Gains
All three major U.S. equity indices finished the week at fresh all-time highs as a relief rally Friday more than fully erased earlier losses in the holiday-shortened trading week. Stocks rebounded from concerns of a slowdown in global growth, stirred in large part by an increase of Delta variant infections in several regions. Another drop in Treasury yields also put markets on edge about a growth slowdown. Big Tech stocks’ gains were capped on Friday after President Biden signed an executive order aimed at increasing competition for federal contracts.
For the Week...
The S&P 500 rallied 0.42% last week, the Dow Industrials added 0.24% and the tech-heavy Nasdaq Composite rose 0.43%. Mid cap stocks were unchanged for the week, while the small cap-focused Russell 2000 fell 1.11%. Large cap value stocks performed best, up 0.96%.
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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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