Market Commentary: A Year of Many Records; Some Noteworthy, Some Dubious
Commentary: Stocks are Expensive. Does that Mean the Market is?
April 2021
There is an awful lot to like about the direction of the U.S. economy and subsequently, U.S. equity markets. We are just a few days into April and the S&P 500 has gained 8.5% year-to-date, while the NASDAQ and Russell 2000 have climbed 6.4% and 10.1%, respectively.
April 12, 2021
The major U.S. equity indices kept their rally hats on as the second quarter has gotten off to a hot start. The Nasdaq is already up 4.9%, with the S&P 500, not too far off its heels, up 3.9%. The Dow Jones Industrial Average has gained 2.5%, while the Russell Mid Cap and Russell 2000 have gained 3% and 1%, respectively. In addition, several commodities continue to surge higher. Lumber is up nearly 12% quarter-to-date, while food and grains such as sugar, wheat, hogs and corn are all up close to mid-single digits. Moving on to Treasuries, yields have somewhat stalled out so far this quarter.