Economic Update for the week ending July 24, 2021

  Stock markets closed the week at or near record highs – The week began with the largest one day point drop since October marking five straight days of declines. This was due to fears of rising COVID cases. It has become evident that COVID is not behind us as we had hoped. On Tuesday calming words by the Fed, and another round of corporate profit releases turned markets positive. By week’s end...

Economic update for the week ending July 17,  2021

  Stock markets ended the week slightly lower - Stock markets had a relatively quiet week. Second quarter corporate profits have come in strong which was expected. Unfortunately, investors sold off stocks Friday on fears of rising COVID cases. That brought stock markets down at the close of the week. The Dow Jones Industrial Average closed the week at 34,687.85, down 0.5% from 34,870.16 last...

Economic update for the week ending July 10, 2021  

  Stocks slightly higher after turbulent week – Stocks markets exhibited huge swings this week. Thursday markets plunged over one percent as investors feared that thespike in new COVID Delta variant cases would slow the progress of the world returning to normalcy after the pandemic. A decision by Japan not to allow fans at the summer Olympics was also announced Thursday.  Economic data released...

Economic update for the week ending July, 3,  2021

Economic update for the week ending July, 3,  2021   U.S. employers added 850,000 jobs in June - The Department of Labor and Statics reported that 850,000 new jobs were added in June. That was a much higher than the 559,000 new jobs added in May, and the most jobs added in 10 months. The unemployment rate was 5.9% in June, up from 5.8% in May, as more workers entered the...

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