U.S. jobs report data propelled equities to finish the first half of 2021 on a high note and continued the upward momentum into the holiday weekend. The Dow, Nasdaq, and S&P500 all closed at record highs as interest rates remain a non-factor. A holiday-shortened week still offers a busy economic calendar. Constant and immediate information leads many to haste and anxiety. At the end of the day, keep it simple.
Don’t Overthink It
So much information is at our fingertips today. Have a question about a health issue? I’m sure Google has a quick answer and Amazon has a perfectly matched product for you, or there are probably 50 blogs on the topic detailing every answer under the sun. But how do you know if you can trust those results?
Copious amounts of data and conflicting opinions can be very confusing when you have an important decision to make – especially one concerning your future or finances. It’s those panic moments of information overload when analysis paralysis can set in. The fear of making the wrong choice often results in endless wrangling over the upsides and downsides of each option, and an inability to pick one.
Analysis paralysis can cost you time and money. When it comes to your finances, don’t put extra pressure on yourself. I can keep your worries in check by staying laser-focused on the long-term goals you’re striving for. Working together, I’ll help you replace paralysis with problem-solving. In doing so, you will reclaim your time, energy, and brainpower.
Last Week: All About Jobs Report
Equities finished the first half of 2021 on a high note and continued the upward momentum into the holiday weekend on the back of strong U.S. jobs report data. The ADP report showed private payrolls grow by 692,000 in June versus the estimate of 550,000. Non-farm payrolls also grew by 850,000, despite the unemployment rate rising to 5.9%. However, the under-unemployment rate (U-6), which accounts for discouraged and part-time workers, fell below 10%. This was the first time since March 2020 the report came in under 10%. Jobless claims reached a fresh pandemic low of 364,000.
U.S. consumer confidence hit a fresh pandemic high of 127.3 in June. Manufacturing continued to expand at a strong pace. The U.S. ISM Manufacturing Index eased to 60.6 from 61.2, but prices paid for raw materials soared to 92.1, highest since 1979. U.S. home prices saw an annual gain of 14.6% in April, and pending home sales unexpectedly jumped 8% in May as demand continues.
Week Ahead
A holiday-shortened week still offers a busy economic calendar. Tuesday kicks off with the U.S. ISM Services PMI, on the heels of last week’s NFP jobs report that showed sizable job gains in leisure and hospitality. Wednesday presents a look at minutes from the June Fed meeting. Year-to-date index performance; S&P 500 is up nearly 16% YTD, while the Dow and Nasdaq have each added about 13.5%.
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This website is for informational purposes only and is not intended to be specific advice or recommendations. For specific advice or recommendations you would need to meet directly with one of our advisers.