Tale of the Tape
Good evening, ladies and gentlemen. We made it through another week in the markets! 🎊
The S&P 500 and the Dow Jones both rebounded to close at all-time highs. Meanwhile, Small-Caps and the Nasdaq continue to lag.
The upcoming earnings week is winding down. We’ll hear from Lululemon and Chewy on Tuesday, Micron on Wednesday, and Carmax Thursday.
After dipping to begin the week, $BTC.X and $ETH.X rallied late week to avenge the losses.
And last week’s changes:
Here’s the weekly S&P 500 chart:
This week didn’t disappoint with rippers and dippers everywhere! Large cap stocks outperformed again while growth and tech trailed behind. Check out these weekly charts:
Consumer Staples broke out of a 19-week long base and closed at new-highs. $XLP has traded green in four consecutive weeks.
The small-caps seem to have temporarily lost their gusto. Is more time needed for a sustained move higher, or will the $IWM ETF continue to falter? We shall see…
Crude traded quietly under the 65 level which has plagued it for a few years. Fifth time’s the charm, right?
China Tech gave it up and then some. $CQQQ closed red for the sixth straight week. The ETF is down 1.35% in 2021.
Real Estate roamed 3.3% higher and cleared a year long consolidation. $XLRE has all-timers in its sights 🎯 just 5% away.
Upstart Holdings Inc continued upward for the third straight week. After doubling on earnings last week, $UPST raged another 14%. Who knows where this will trade at year’s end.
The Dow carried onward. Oh, she’s a grinder! The 30 stock list closed above $33K for the first time ever.
ViacomCBS popped like a balloon this week. $VIAC lost half its value after the company sold $3 billion worth of stock…
NASA released its new Commercial LEO Destinations (CLD) project last week. The agency plans to award $400 million to potentially four companies in Q4 of 2021 to initiate development on private space stations.
The agency is seeking to duplicate the success of its Commercial Cargo and Commercial Crew programs. Those programs saw three companies take over for NASA as its means of sending cargo and astronauts to the International Space Station.
NASA has already shifted responsibility of cargo and crew transportation to private companies. It now looks to transition responsibility of destinations to a private as well.
Phil McAlister, director of LEO:
By bringing the private sector into these sections and into these areas, as suppliers and users, you expand the pot, and you have more people in low Earth orbit.
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The Week Ahead
And now a brief and well-organized look ahead at the trading week beginning Monday, March 29th, 2021:
3/30 Consumer Confidence (10 AM ET)
4/01 Initial Claims (8:30 AM ET)
4/01 ISM Manufacturing Index (10 AM ET)
Here’s the full Economic Calendar provided by Briefing.
Be sure to know when your stocks are reporting. Here’s the earnings calendar: