• Steven Roy

Last Week's Market & Economic Summary

For the week that ended 10/22/2021 --

  • The S&P index finished up 1.5% at a new record high. (Which was eclipsed today!) All eleven sectors finished up.

  • The NASDAQ was also up, by about the same amount, though not quite in record territory.

  • Short-Term Interest Rates continued their climb.

  • US Economic data was mixed even as jobless claims hit a new pandemic-low. Manufacturing indices continue to be plagued by supply chain and raw materials issues. Weirdly, China's manufacturing index fell sharply.

This week started with a bang:

  • Tesla up nearly 12% on news of a large fleet purchase by Hertz.

  • Two new record closing highs, for the S&P and DOW.

  • Facebook earnings beat expectations, even though revenue fell short. (Shares rose in late afternoon, but we'll have to wait to see if the gains hold - Facebook's problems have not gone away!)

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