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...
Economic update for the week ending June 26, 2021 Stock markets surged - S&P closed at record highs - Stock markets rallied and recovered from last week’s loses. Early in the week stocks rallied after Fed Chairman Jerome Powell stated that the Fed considered the current inflationary period transitory. He explained that comparing current prices to prices from one year ago when we were...
Economic update for the week ending June 19, 2021 Stock markets dropped this week – Stock markets dropped following comments by Federal Reserve which were issued after their monetary policy meeting this week. In their comments they recognized that inflation is picking up at a faster rate than they had estimated. They said that they anticipated bringing rates above the 0% rate they dropped...
Stock markets - The May CPI Index report showed that inflation increased 5% year over year. That was highest reading since 2008. Normally a high inflation report would drive interest rates up and stocks down. That did not happen. There were several reasons that investors did not pay much attention to a report that suggested inflation was surging. Among those were that the report compares prices in May of...