April 30, 2021

April 30, 2021

This was the busiest week for earnings reports this quarter with nearly 30% of the companies in the S&P 500 reporting Q1 results and 80% of the reports were better than expected. Coming into the week the S&P 500 was already 5% higher for the month so excellent earnings reports and strong economic data were expected and did little to move the market. Excitement about the economic reopening and the strong economic rebound that lies ahead have driven stock prices to valuations that are, by most measures, high. A period of consolidation is expected and healthy.

For the week

  • Dow -168 to 33875
  • S&P 500 +1 to 4181
  • NASDAQ -55 to 13962
  • Oil +1.50 to 63.50
  • Gold -10 to 1767

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