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Market Update - March 14, 2021

3/14/2021

 
Hope all is well. After posting mixed results the previous week, the major U.S. stock indexes recorded solid gains amid a modest comeback for technology stocks that had recently declined. The Dow gained nearly 4% while the S&P 500 and the NASDAQ both added more than 2%.   I have broken down this week’s using rides at Coney Island.
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The Dow shoots up to a historic high like the Thunderbolt

The index crossed the 32,000 point level for the first time on Wednesday, then pushed its record higher on Thursday as the S&P 500 and Russell 2000 also posted historic highs. It’s been a quick surge to 32,000 for the Dow, which eclipsed 31,000 in early January; in late November, it topped 30,000.
 
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NASDAQ’s Cyclone like roller coaster run continues

The NASDAQ fell into a correction on Monday, as its 2.4% decline that day left the index 10.6% below its record high set on February 12 of this year. However, the technology stock-oriented index rebounded sharply, recording a cumulative gain of 6.3% over the course of Tuesday, Wednesday, and Thursday.
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Economy getting off the Wonder Wheel

The economy is trying to come full circle and get back to pre-pandemic levels.  Many sectors of the economy are there.  To complete the recovery, the most economically vulnerable need to be taken care of. The COVID-19 relief bill hopes to do that. Following its narrow approval in Congress, a $1.9 trillion COVID-19 relief bill was signed into law on Thursday by President Biden. The bill helps fund vaccinations which is critical for a return to profitability for the industries most hard hit by Covid restrictions (travel, dining,entertainment,etc.). The measure will provide a $1,400 check to many Americans, extend a $300 weekly jobless-aid supplement, and expand the child tax credit for one year, with the hope that money gets spent in local economies throughout the country.
 
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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