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3 Keys to the Week - April 9, 2021

A seven-figure increase in new jobs created and continued progress on the COVID front drove the market to all-time highs this week. Concerns about higher future inflation and interest rates have been subdued, as investors continue to rush into the equity markets. However, with valuations and sentiment skyrocketing, it is very important to continue to stay the course with investment strategy.

Jobs Report – The most recent jobs data report indicated over one million jobs created in March with the January/February revisions. Perhaps the most encouraging part of that news was that virus-sensitive job gains were only half of the total, suggesting that America is recovering broadly across many industries. While 10 million more jobs are needed to get back to pre-COVID numbers, April to July job gains should be even stronger.

COVID Data – Part of the reason for the optimism regarding continued job growth is the continued positive COVID data, which strengthens the case for a quicker and more efficient reopening. The most recent reported daily vaccine rate is over three million, which puts the U.S. on pace to achieve a 75% vaccination rate in less than three months. Additionally, Monday’s total of only 222 COVID-related deaths is the lowest number since March 23, 2020.

Record Highs – Both the Dow Jones Industrial Average and the S&P 500 hit all-time highs this week, on the strength of gains in “reopening” stocks (airlines and cruise operators) and many technology companies. Investor sentiment is very bullish, with individual investors surveyed currently allocating almost 70% of their portfolios to stocks, the highest percentage in several years.

Source: @sentimentrader



Investment advice offered through Strauss Financial Group, Inc., a Registered Investment Advisor.

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Investment advice offered through Strauss Financial Group, Inc., a Registered Investment Advisor.

Data sources: News items are based on reports from multiple commonly available international news sources (i.e. wire services) and are independently verified when necessary with secondary sources such as government agencies, corporate press releases, or trade organizations. Market data: Based on data reported in WSJ Market Data Center (indexes); U.S. Treasury (Treasury yields); U.S. Energy Information Administration/ Market Data (oil spot price, WTI Cushing, OK); (spot gold/silver); Oanda/FX Street (currency exchange rates).

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