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Market Update - June 13, 2021

6/13/2021

 
Hope all is well. The major U.S. stock indexes continued to hover near record highs set earlier in the spring, with the S&P 500 breaking its record on Thursday. That index posted a small gain for the third week in a row, as did the NASDAQ, which outperformed its peers; the Dow retreated modestly.   I have broken down this week's news using songs from Dr. Dre's 1992 album The Chronic.
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Nuthin' But a G Thang
It was time for President Biden to make his impression felt at the G-7 meeting which started Friday.  The leaders announced they would endorse a 15% minimum corporate and that they reached consensus on the need for a shared approach to China selling exports at unfairly low prices.  Endorsing and reaching consensus does not always equate to  action so it remains to be seen what the follow through will be.  
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Let Me Ride
Demand for used cars and trucks continues to surge. The impact of supply shortages and bottlenecks continues to be prevalent. Used-car prices continued to rise sharply in May, increasing 7.3% in May from April and accounting for about one-third of the overall 5% increase in inflation. Semiconductor shortages are still affecting new car production, but some of those supply-chain pressures are starting to ease.

The Doctor's Office
There will be less vaccine at your Doctor's office.  The F.D.A. told Johnson & Johnson that about 60 million doses made at a troubled plant in Maryland cannot be used due to possible contamination. The news sent the stock lower.

I am here to help at any time. If you would like to schedule a phone/web conference appointment, I have included a link to my calendar below and you can self schedule.

https://booknow.appointment-plus.com/b8hh5y90/

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    Stephen Caruso
    President & Founder

    Laurel Wealth Solutions

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STEPHEN CARUSO
President & Founder

Laurel Wealth Solutions
p. 800.LWS.4579  (800.597.4579)  |  f. 914.517.5107
e. [email protected]

New York
​31 E. 32nd St., Suite 602
New York, NY 10016
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69-10 108th St., Suite 1A
Forest Hills, NY 11375
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10 Shawnee Dr., Suite 1
​Watchung, NJ 07069
Belpointe Financial
125 Greenwich Ave
Greenwich, CT 06830
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Licensed Insurance Professional.
Stephen Caruso is an Investment Advisor Representative offering investment advisory services through Belpointe Asset Management, LLC, 125 Greenwich Avenue, Greenwich, CT 06830 (“Belpointe"). Belpointe is an investment adviser registered with the Securities and Exchange Commission (“SEC”). Registration with the SEC should not be construed to imply that the SEC has approved or endorsed qualifications or the services Belpointe Asset Management offers, or that or its personnel possess a particular level of skill, expertise or training. Insurance products are offered through Belpointe Insurance, LLC. Important disclosures related to Belpointe are available at http://www.belpointe.com. Additional information pertaining to Belpointe’s registration status, its business operations, services and fees and its current written disclosure statement is available on the SEC’s Investment Adviser public website at https://www.adviserinfo.sec.gov/. 
AR-4241  |  18296-2018/12/11
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