Weekly Market Recap
April 9, 2021
The stock market momentum continued, with the S&P 500 gaining 2.6% and setting another new record high. Technology stocks did well, helping growth outperform value by over 2% this week. Still, the tech-heavy NASDAQ composite is below its all-time high set nearly 2 months ago. Other parts of the investment universe, such as metals, yields, and volatility were fairly quiet, while the price of oil declined 3%. One read on inflation increased from last month, in part due to a comparison against low energy prices from a year ago. For March, the Producer Price Index showed 4.2% annual inflation (3.1% excluding food and energy prices), up from 2.8% for February and 1.7% for January. Next week we will get several different reads on the consumer: inflation, retail sales, and sentiment. If your needs are changing or if you would like more information on the markets or your portfolio, please contact your Buckingham advisor.
Ryan P. Johnson, CFA, CFP®
Director of Portfolio Management & Research