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🚨 NDVA surged 43%. This AI Chipmaker Could Be Next See Analysis
Stock Market News: Mixed Week For Equities
www.investing.com/analysis/stock-market-news-mixed-week-for-equities-200598656
Stock Market News: Mixed Week For Equities
By Double Dividend Stocks | Aug 15, 2021 01:09AM ET Market Indexes: 2 out of 4 indexes gained this past week, the DOW and the S&P, with the NASDAQ ~flat, and the Russell small Caps retreating -1%.
“The Dow Industrial and S&P 500 edged up to closing records on Friday and notched a second straight week of gains, buoyed by a climb in Walt Disney (NYSE:DIS) shares, but a sharp drop in consumer sentiment kept gains in check. A report from the University of Michigan dented optimism after it showed the university’s preliminary consumer sentiment index fell to 70.2, its lowest level in a decade, suggesting that the Delta variant of the coronavirus was impacting consumers.” (Reuters)
Volatility: The VIX fell 5% last week, ending the week at $15.45.
High Dividend Stocks: These high dividend stocks go ex-dividend next week: Artisan Partners Asset Management (NYSE:APAM), Oxford Lane Capital (NASDAQ:OXLC), Oxford Square Capital Corp (NASDAQ:OXSQ), Portman Ridge Finance Corp (NASDAQ:PTMN), PennantPark Floating Rate Capital Ltd (NASDAQ:PFLT), Solar Senior Capital Ltd (NASDAQ:SUNS), Icahn Enterprises LP (NASDAQ:IEP), GODD, Gladstone Investment (NASDAQ:GAIN), Gladstone Capital (NASDAQ:GLAD).
Market Breadth: 23 out of 30 DOW stocks rose last week, vs. 14 the week before last. 66% of the S&P 500 rose, vs. 54% the previous week.
FOREX: The US $ fell vs. other major currencies, except the pound and the Swiss franc.
Economic News
“A $1 trillion infrastructure package that is a top priority for U.S. President Joe Biden secured enough votes to pass in the Senate on Tuesday, a bipartisan victory for the White House as it aims to provide the nation’s biggest investment in decades in roads, bridges, airports and waterways.
Polls show that the drive to upgrade America’s infrastructure, hammered out by a bipartisan group of senators over months of negotiations, is broadly popular with the public. The bill still has to go to the House of Representatives and the spirit of cooperation in Congress that led to its passage on Tuesday will likely prove fleeting.” (Reuters)
“The number of Americans filing claims for unemployment benefits fell last week, a sign that the economic recovery from the COVID-19 pandemic continues to gather momentum.
Initial claims for state unemployment benefits fell 12,000 to a seasonally adjusted 375,000 for the week ended August 7. Data for the prior week was revised to show 2,000 more applications received than previously reported. Claims remain well above their pre-pandemic level of 256,000, though they have dropped from a record 6.149 million in early April 2020. There were a record 10.1 million job openings at the end of June. About 8.7 million people are officially unemployed.” (Reuters)
Week Ahead Highlights: Housing reports and FOMC meeting minutes are due out this week.
Q2 ’21 Earnings season continues to wind down, with 3 DOW stocks reporting—tech giant Cisco Systems Inc (NASDAQ:CSCO), and retailers Walmart (NYSE:WMT) and Home Depot (NYSE:HD). Several other big S&P retailers will report, including Target (NYSE:TGT), TJX (NYSE:TJX), and Ross Stores (NASDAQ:ROST).
The Week’s US Economic Reports
Sectors: Basic materials led the week, aided by the dollar’s decline, with the Energy sector lagging.
Futures: WTI crude fell -.37%, basically flat, ending at $68.03.
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Stock Market News: Mixed Week For Equities
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