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ECONOMY AND MARKETS

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Market Recap

Week of Sep. 6 through Sep. 10, 2021

The S&P 500 index ended the week in the red, snapping a two-week winning streak.

The benchmark average closed the week at 4,459, down 1.67% from last Friday’s close of 4,535. Despite a strong start on Friday, the S&P tumbled into negative territory in the last hour of trading, fueled by gloomy Wall Street projections for the economy and stock market as COVID-19 continues to spread.

With five consecutive losses, this was the worst week for the S&P 500 since February.

Investors’ pivot into more defensive assets such as Treasuries was driven by worries about the longevity of the economic recovery and the spread of the Delta variant while global central bankers make preparations to exit pandemic-era stimulus programs.

All sectors of the S&P ended the week in the red with the real estate sector taking the brunt of last week’s selling pressure, down nearly 4% from last Friday’s close. Digital Realty Trust (DLR) was the worst-performing stock in the sector with the majority of its 7.3% loss attributed to a 6.25 million stock offering last week.

Healthcare stocks were also under heavy selling pressure with the sector down 2.7% from last week. A sizable gain in component stock Moderna (MRNA) was overshadowed by a big loss for Biogen (BIIB) and Eli Lilly (LLY) as Biogen announced a “slower than anticipated” launch for its Alzheimer’s drug Aduhelm. The stock suffered its longest losing streak in more than two years, taking Eli Lilly down in sympathy.

Supply chain disruptions continued to weigh on the industrial sector, down for a second straight week with a loss of 2.5%. Construction machinery manufacturer Deere (DE) was the sector’s worst-performing stock, losing 6.7% in value alongside chemical-maker PPG (PPG) which withdrew its 2021 outlook on increased supply-chain challenges that were undermining profits.

The tech sector started the week near record highs, dodging a broad market sell-off but ultimately ended the week 1.8% lower as losses in Hewlett Packard Enterprises (HPE) and Enphase Energy (ENPH) offset strength in Analog Devices (ADI) and Global Payments (GPN).

The consumer discretionary sector nearly ended the week in the green, but ultimately lost ground in sympathy with a broad market sell-off. CarMax (KMX) was higher by almost 6% as the dearth of automobile inventory coupled with the preference for touch-less car buying made CarMax investors’ top pick in the sector. At the other end of the spectrum was Pulte Homes (PHM) with a problematic supply chain undermining the company’s Q3 closing projections. The homebuilders’ stock lost more than 10% in value last week, leaving it at its lowest level since March.

A dearth of key economic data last week was offset by a strong Treasury refunding and a deluge of Fedspeak.

Investors eagerly scooped up $120 billion in 3-Year notes, 10-Year notes, and 30-Year bonds, driving Treasury yields lower, and dampening demand for financial stocks amid declining lending rates. The sector was down 1.3% on the week.

The Fed released their Beige Book last week with the Delta variant making a prominent appearance, mentioned more than 30 times in the report. Dining and travel were noticeably impacted while sectors like manufacturing and transportation remained strong.

Next week’s calendar includes the consumer price index on Tuesday, the Empire State manufacturing index, production data on Wednesday, and retail sales Thursday.

Provided by MT Newswires

 

Major US Indicators Events Calendar

Sep. 13 through Sep. 19, 2021

Indicator Name
Latest Value

Next Release
Next Release Time (ET)
Frequency

1 Release Ago
2 Release Ago
3 Release Ago

    

US Consumer Price Index
272.26

09/14/2021
8:30 AM
Monthly

0.47% 
0.90% 
0.64% 

    

US Consumer Price Index MoM
0.47%

09/14/2021
8:30 AM
Monthly

-47.64% 
40.47% 
-16.34% 

    

US Initial Claims for Unemployment Insurance
310000.0

09/16/2021
8:30 AM
Weekly

-10.14% 
-2.54% 
1.43% 

    

US Retail Sales MoM
-1.49%

09/16/2021
8:30 AM
Monthly

0.00% 
25.01% 
0.00% 

    

US Retail Sales YoY
13.33%

09/16/2021
8:30 AM
Monthly

-18.73% 
-31.32% 
-50.27% 

    

30 Year Mortgage Rate
2.87%

09/16/2021
10:00 AM
Weekly

0.00% 
0.35% 
-0.35% 

    

US Business Sales
1.641T

09/16/2021
10:00 AM
Monthly

1.38% 
-0.18% 
0.59% 

    

US Business Inventories
2.057T

09/16/2021
10:00 AM
Monthly

0.83% 
0.60% 
0.06% 

    

View All Indicator Releases

 

Headline US Indicators Review

Indicator Name
Date

Latest Value

1M Ago
3M Ago
1Y Ago

1M Change
3M Change
1Y Change

  

Target Federal Funds Rate Lower Limit
07/28/21

0.00%

0.00%
0.00%
0.00%

— 
— 
— 

  

US Consumer Price Index
07/31/21

272.26

270.98
266.83
258.60

0.47% 
2.04% 
5.28% 

  

US GDP
06/30/21

22.73T

22.73T
22.04T
19.48T

0.00% 
3.15% 
16.71% 

  

US Housing Starts
07/31/21

1.534M

1.65M
1.514M
1.497M

-7.03% 
1.32% 
2.47% 

  

US Manufacturing New Orders
07/31/21

508.06B

506.13B
487.41B
438.26B

0.38% 
4.24% 
15.93% 

  

US Personal Consumption Expenditures
07/31/21

15.83T

15.79T
15.61T
14.13T

0.27% 
1.39% 
12.05% 

  

US Retail Sales
07/31/21

545.50B

553.73B
562.27B
481.36B

-1.49% 
-2.98% 
13.33% 

  

US Total Nonfarm Payrolls
08/31/21

147.19M

146.96M
144.94M
141.15M

0.16% 
1.55% 
4.28% 

  

View All Indicators

 

US Equity Major Funds Review

Benchmark:
SPDR® S&P 500 ETF Trust

Week %
-1.71%

YTD %
19.93%

1Y %
35.41%

Passive

Week %

YTD %

1Y%

Invesco QQQ Trust

-1.00%

20.32%

39.06%

 

SPDR® S&P 500 ETF Trust

-1.71%

19.93%

35.41%

 

Vanguard Dividend Appreciation ETF

-1.78%

14.37%

27.93%

 

Vanguard Institutional Index I

-1.71%

19.89%

35.51%

 

Vanguard Mid-Cap ETF

-2.01%

19.07%

43.08%

 

Vanguard Small-Cap ETF

-2.91%

15.00%

47.85%

 

Vanguard Total Stock Market ETF

-1.83%

18.96%

38.07%

 

iShares Russell 1000 Value ETF

-2.41%

18.01%

37.13%

 

iShares Russell 2000 ETF

-3.23%

13.42%

49.14%

 

Active

Week %

YTD %

1Y%

 

American Funds Washington Mutual A

-1.95%

17.59%

32.30%

 

Dodge & Cox Stock

-3.23%

24.86%

50.89%

 

Fidelity® Contrafund®

-1.20%

20.91%

32.79%

 

MFS Value I

-2.06%

18.82%

34.31%

 

T. Rowe Price Mid-Cap Growth

-1.56%

14.18%

36.72%

 

Vanguard Dividend Growth Inv

-1.94%

15.58%

27.35%

 

Vanguard Windsor™ II Admiral™

-1.95%

21.25%

43.48%

 

View All Funds

 

International Equity Major Funds Review

Benchmark:
iShares MSCI ACWI ex US ETF

Week %
-0.84%

YTD %
9.78%

1Y %
27.50%

Passive

Week %

YTD %

1Y%

Vanguard FTSE Developed Markets ETF

-0.88%

13.04%

31.09%

 

Vanguard FTSE Europe ETF

-2.35%

16.18%

31.90%

 

Vanguard Total International Stock ETF

-0.80%

11.04%

28.98%

 

iShares MSCI EAFE ETF

-0.66%

12.76%

29.47%

 

iShares MSCI Emerging Markets ETF

-0.66%

2.03%

22.42%

 

iShares MSCI Eurozone ETF

-2.23%

15.38%

31.75%

 

iShares MSCI Japan ETF

4.27%

8.56%

27.39%

 

Active

Week %

YTD %

1Y%

 

American Funds Capital World Gr&Inc A

-1.15%

12.46%

29.67%

 

American Funds Europacific Growth R6

-0.55%

9.37%

32.56%

 

American Funds New Perspective A

-0.90%

15.29%

37.57%

 

Franklin Mutual Global Discovery A

-1.84%

15.65%

35.22%

 

Harbor International Institutional

-0.68%

12.78%

33.90%

 

Invesco Developing Markets Y

-0.07%

0.54%

20.44%

 

MFS International Intrinsic Value I

0.15%

10.32%

21.98%

 

Oakmark International Investor

-3.04%

8.74%

37.71%

 

View All Funds

 

US Fixed Income Major Funds Review

Benchmark:
iShares Core US Aggregate Bond ETF

Week %
-0.16%

YTD %
-0.78%

1Y %
-0.20%

Passive

Week %

YTD %

1Y%

SPDR® Blmbg Barclays High Yield Bd ETF

-0.15%

3.60%

9.49%

 

Vanguard Interm-Term Bond ETF

-0.20%

-0.92%

-0.27%

 

Vanguard Interm-Term Corp Bd ETF

-0.21%

-0.29%

1.83%

 

Vanguard Short-Term Bond ETF

-0.05%

-0.10%

0.25%

 

Vanguard Total Bond Market ETF

-0.22%

-0.88%

-0.20%

 

iShares Core US Aggregate Bond ETF

-0.16%

-0.78%

-0.20%

 

iShares TIPS Bond ETF

0.26%

4.37%

6.01%

 

iShares iBoxx $ High Yield Corp Bd ETF

-0.19%

3.35%

8.85%

 

iShares iBoxx $ Invmt Grade Corp Bd ETF

-0.16%

-0.57%

2.38%

 

Active

Week %

YTD %

1Y%

 

Dodge & Cox Income

-0.07%

0.18%

2.22%

 

DoubleLine Total Return Bond N

-0.19%

0.57%

1.13%

 

Lord Abbett Short Duration Income F

0.06%

1.26%

2.82%

 

Metropolitan West Total Return Bd I

-0.06%

-0.19%

0.91%

 

PIMCO Income Instl

0.11%

2.73%

7.01%

 

PIMCO Total Return Instl

-0.13%

-0.19%

0.71%

 

T. Rowe Price New Income

-0.16%

0.21%

1.59%

 

View All Funds

 

Indices > S&P 500 Events Calendar

Sep. 13 through Sep. 19, 2021

Earnings

Next Earnings Report

Estimate

    

ORCL
Oracle Corp

09/13/21

0.9680

    

 

Dividends

Ex-Date

Amount

Price

  

KO
Coca-Cola Co

09/14/21

0.42

55.61

  

TMO
Thermo Fisher Scientific Inc

09/14/21

0.26

571.96

  

MRK
Merck & Co Inc

09/14/21

0.65

73.45

  

MO
Altria Group Inc

09/14/21

0.90

50.60

  

GILD
Gilead Sciences Inc

09/14/21

0.71

70.99

  

CCI
Crown Castle International Corp

09/14/21

1.33

188.36

  

HCA
HCA Healthcare Inc

09/15/21

0.48

256.70

  

PLD
Prologis Inc

09/16/21

0.63

133.63

  

 

View All Stock Events

 

Technology Majors Review

Benchmark:
Technology Select Sector SPDR® ETF

Week %
-1.32%

YTD %
20.93%

1Y %
38.76%

 

Ticker
Company Name

Week %

YTD %

1Y%

Vol. Trend
Market Cap

GOOG
Alphabet Inc

-1.59%

62.02%

85.27%

-10.34% 
1.893T

AAPL
Apple Inc

-3.05%

12.80%

32.11%

0.02% 
2.462T

CSCO
Cisco Systems Inc

-2.75%

32.25%

50.95%

0.60% 
243.96B

FB
Facebook Inc

0.91%

38.63%

41.25%

-14.00% 
1.068T

IBM
International Business Machines Corp

-2.14%

12.84%

19.48%

1.17% 
122.81B

MSFT
Microsoft Corp

-1.81%

33.82%

45.31%

-5.90% 
2.222T

ORCL
Oracle Corp

-0.13%

40.27%

58.90%

4.54% 
250.39B

QCOM
Qualcomm Inc

-1.68%

-4.96%

29.32%

-8.51% 
160.94B

View All Stocks

 

Financial Services Majors Review

Benchmark:
Financial Select Sector SPDR® ETF

Week %
-1.91%

YTD %
28.55%

1Y %
56.12%

 

Ticker
Company Name

Week %

YTD %

1Y%

Vol. Trend
Market Cap

BAC
Bank of America Corp

-1.83%

34.76%

63.48%

-0.11% 
338.87B

BRK.B
Berkshire Hathaway Inc

-2.61%

19.72%

27.46%

4.21% 
627.53B

C
Citigroup Inc

-2.70%

15.50%

41.50%

-3.48% 
141.00B

GS
Goldman Sachs Group Inc

-2.66%

54.84%

105.3%

2.07% 
136.01B

JPM
JPMorgan Chase & Co

-1.93%

26.18%

62.07%

-1.62% 
470.22B

MA
Mastercard Inc

1.79%

-2.32%

4.86%

4.39% 
342.80B

V
Visa Inc

0.33%

3.27%

12.25%

1.99% 
478.34B

WFC
Wells Fargo & Co

-0.54%

48.28%

87.69%

-1.12% 
182.04B

View All Stocks

 

Industrials Majors Review

Benchmark:
Industrial Select Sector SPDR® ETF

Week %
-3.11%

YTD %
15.86%

1Y %
35.08%

 

Ticker
Company Name

Week %

YTD %

1Y%

Vol. Trend
Market Cap

MMM
3M Co

-5.31%

8.06%

16.77%

8.97% 
106.79B

BA
Boeing Co

-4.77%

-1.76%

33.36%

-3.03% 
123.27B

CAT
Caterpillar Inc

-3.20%

14.36%

39.75%

-0.74% 
112.24B

DHR
Danaher Corp

-0.43%

48.81%

63.04%

-0.02% 
235.58B

GE
General Electric Co

-4.01%

18.23%

113.4%

1.80% 
111.96B

HON
Honeywell International Inc

-3.72%

5.88%

37.74%

3.09% 
153.52B

LMT
Lockheed Martin Corp

-3.40%

-0.41%

-6.09%

-0.43% 
95.78B

UPS
United Parcel Service Inc

-2.49%

16.66%

25.20%

-16.81% 
168.34B

View All Stocks

 

Real Estate Majors Review

Benchmark:
Real Estate Select Sector SPDR®

Week %
-3.86%

YTD %
30.23%

1Y %
36.07%

 

Ticker
Company Name

Week %

YTD %

1Y%

Vol. Trend
Market Cap

BXP
Boston Properties Inc

-6.01%

16.45%

33.24%

-4.75% 
16.88B

BAM
Brookfield Asset Management Inc

-3.25%

34.56%

71.42%

-15.42% 
86.39B

CBRE
CBRE Group Inc

-1.01%

54.51%

103.9%

-4.25% 
32.54B

EQIX
Equinix Inc

-3.48%

19.58%

15.37%

-2.09% 
75.75B

PLD
Prologis Inc

-3.50%

35.60%

36.68%

3.97% 
98.79B

SPG
Simon Property Group Inc

-5.18%

55.04%

106.6%

-0.67% 
42.03B

VTR
Ventas Inc

-0.86%

16.46%

33.55%

3.15% 
21.37B

View All Stocks

 

Energy Majors Review

Benchmark:
Energy Select Sector SPDR® ETF

Week %
-2.27%

YTD %
28.70%

1Y %
54.29%

 

Ticker
Company Name

Week %

YTD %

1Y%

Vol. Trend
Market Cap

BP
BP PLC

-1.37%

24.07%

30.42%

-1.38% 
82.08B

CVX
Chevron Corp

-1.68%

18.41%

29.85%

1.66% 
185.79B

COP
ConocoPhillips

-1.54%

42.87%

75.76%

-2.50% 
74.63B

XOM
Exxon Mobil Corp

-2.00%

37.19%

56.44%

-0.61% 
228.53B

HAL
Halliburton Co

-4.55%

3.98%

37.97%

-5.06% 
17.39B

PBR
Petroleo Brasileiro SA Petrobras

-6.23%

-2.89%

30.76%

10.81% 
64.83B

PSX
Phillips 66

-5.06%

-1.78%

25.87%

3.14% 
29.07B

SU
Suncor Energy Inc

-3.17%

11.67%

37.85%

-3.39% 
27.17B

View All Stocks

 

Healthcare Majors Review

Benchmark:
Health Care Select Sector SPDR® ETF

Week %
-2.57%

YTD %
18.27%

1Y %
29.84%

 

Ticker
Company Name

Week %

YTD %

1Y%

Vol. Trend
Market Cap

ABBV
AbbVie Inc

-4.77%

3.09%

24.90%

10.80% 
188.52B

AMGN
Amgen Inc

-5.40%

-4.96%

-8.58%

5.57% 
121.38B

JNJ
Johnson & Johnson

-4.55%

8.06%

16.57%

2.43% 
439.55B

MRK
Merck & Co Inc

-4.76%

-8.65%

-9.20%

4.77% 
185.93B

NVS
Novartis AG

-7.29%

-6.06%

0.21%

1.88% 
191.08B

PFE
Pfizer Inc

-2.67%

27.60%

40.61%

-4.41% 
255.61B

UNH
UnitedHealth Group Inc

-4.33%

16.43%

35.08%

3.95% 
380.85B

View All Stocks

 

Consumer Defensive Majors Review

Benchmark:
Consumer Staples Select Sector SPDR® ETF

Week %
-1.43%

YTD %
7.83%

1Y %
14.77%

 

Ticker
Company Name

Week %

YTD %

1Y%

Vol. Trend
Market Cap

KO
Coca-Cola Co

-2.04%

3.02%

14.81%

4.63% 
240.05B

MDLZ
Mondelez International Inc

-2.73%

4.09%

7.76%

-2.53% 
84.19B

PEP
PepsiCo Inc

-0.95%

7.16%

18.76%

1.01% 
214.86B

PM
Philip Morris International Inc

-1.96%

28.32%

36.18%

9.78% 
161.42B

PG
Procter & Gamble Co

0.12%

5.55%

8.03%

-0.81% 
349.99B

TGT
Target Corp

-0.52%

39.97%

69.90%

-1.30% 
119.35B

KHC
The Kraft Heinz Co

0.72%

8.07%

20.34%

10.04% 
44.45B

WMT
Walmart Inc

-1.80%

2.41%

8.30%

3.53% 
406.81B

View All Stocks

 

Consumer Cyclical Majors Review

Benchmark:
Consumer Discret Sel Sect SPDR® ETF

Week %
-0.40%

YTD %
14.11%

1Y %
26.29%

 

Ticker
Company Name

Week %

YTD %

1Y%

Vol. Trend
Market Cap

BABA
Alibaba Group Holding Ltd

-2.27%

-27.77%

-37.17%

-10.50% 
455.70B

AMZN
Amazon.com Inc

0.17%

6.52%

9.26%

-4.80% 
1.757T

MCD
McDonald’s Corp

-0.29%

13.39%

12.67%

-5.64% 
178.62B

NKE
Nike Inc

-0.05%

16.30%

43.61%

6.92% 
258.98B

SBUX
Starbucks Corp

1.68%

12.93%

43.01%

-5.52% 
140.71B

HD
The Home Depot Inc

1.28%

27.05%

24.44%

0.69% 
350.33B

DIS
The Walt Disney Co

1.24%

1.62%

38.21%

3.24% 
334.57B

TJX
TJX Companies Inc

-4.17%

1.98%

28.70%

7.20% 
82.82B

View All Stocks

 

Utilities Majors Review

Benchmark:
Utilities Select Sector SPDR® ETF

Week %
-2.31%

YTD %
10.83%

1Y %
20.24%

 

Ticker
Company Name

Week %

YTD %

1Y%

Vol. Trend
Market Cap

D
Dominion Energy Inc

-2.02%

5.43%

1.51%

4.27% 
62.50B

DTE
DTE Energy Co

-2.75%

-0.53%

4.26%

-4.78% 
23.01B

DUK
Duke Energy Corp

-3.23%

16.05%

30.91%

4.51% 
79.40B

ETR
Entergy Corp

-1.64%

15.14%

20.98%

7.08% 
22.47B

NGG
National Grid PLC

-1.25%

13.44%

25.95%

3.00% 
46.01B

NEE
NextEra Energy Inc

-1.79%

11.76%

25.12%

-0.16% 
166.61B

SO
Southern Co

-0.96%

11.14%

33.74%

0.28% 
70.10B

WEC
WEC Energy Group Inc

-1.97%

5.42%

1.71%

-3.93% 
29.93B

View All Stocks

 

Basic Materials Majors Review

Benchmark:
Materials Select Sector SPDR® ETF

Week %
-2.25%

YTD %
17.04%

1Y %
33.17%

 

Ticker
Company Name

Week %

YTD %

1Y%

Vol. Trend
Market Cap

AA
Alcoa Corp

5.52%

114.8%

259.2%

0.95% 
9.250B

MT
ArcelorMittal SA

-3.32%

43.89%

161.1%

-4.50% 
32.83B

DD
DuPont de Nemours Inc

-4.63%

0.30%

24.12%

-5.41% 
36.87B

ECL
Ecolab Inc

-0.48%

4.85%

12.88%

-1.28% 
64.61B

NTR
Nutrien Ltd

0.57%

30.85%

68.80%

6.13% 
35.39B

RIO
Rio Tinto PLC

-2.79%

9.30%

35.02%

-0.40% 
118.49B

SHW
Sherwin-Williams Co

-2.61%

23.49%

29.40%

1.48% 
79.16B

VALE
Vale SA

-5.45%

14.35%

79.90%

4.34% 
90.00B

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Disclaimer of Warranties
THIS SERVICE IS PROVIDED “AS IS” WITH ALL FAULTS. YCHARTS AND ITS CONTENT PROVIDERS DISCLAIM ALL WARRANTIES OF ANY KIND REGARDING THE SERVICE, EITHER EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO, ANY IMPLIED WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OWNERSHIP, NONINFRINGEMENT, ACCURACY OF INFORMATIONAL CONTENT, AND ABSENCE OF VIRUSES AND DAMAGING OR DISABLING CODE. NEITHER YCHARTS NOR ITS CONTENT PROVIDERS WARRANT THE ACCURACY, COMPLETENESS, OR TIMELINESS OF THE SERVICE. NEITHER YCHARTS NOR ITS CONTENT PROVIDERS SHALL BE RESPONSIBLE FOR INVESTMENT DECISIONS, DAMAGES, OR OTHER LOSSES RESULTING FROM USE OF THE INFORMATION.PAST PERFORMANCE DOES NOT GUARANTEE FUTURE PERFORMANCE. NEITHER YCHARTS NOR ITS CONTENT PROVIDERS SHALL BE CONSIDERED AN “EXPERT” UNDER THE SECURITIES ACT OF 1933. NEITHER YCHARTS NOR ITS CONTENT PROVIDERS WARRANT THAT THIS SERVICE COMPLIES WITH THE REQUIREMENTS OF THE NASD OR ANY SIMILAR ORGANIZATION OR WITH THE SECURITIES LAWS OF ANY JURISDICTION.

 

 

TACTICAL ALLOCATION

The Defensive Growth Tactical Allocation Strategy is designed to capitalize on economic and market fragility, which has been brought about by central bank interventions, corporate debt levels, demographic shifts, business cycles and other factors.

 

These factors may express themselves as credit/ stock market events, potentially significant in the near term. The portfolio is a defensive yet opportunistic strategy.

 

This investment strategy can be combined with others to fit your needs. Please feel free to contact us if you would like to discuss and explore investment ideas and options.