How’s 2021 treating you already? We hope the year is off to a fantastic beginning, just like the markets. We also hope you and yours are hale & hearty! Sending loads of awesomeness and brilliance your way this new year and beyond.
You are magic!
Now diving quickly into the swing of things – we bring you the goodness of the markets in our first newsletter of the year! We’re highlighting new highs, some stocks to watch and some acceleration the market is recording.
You know the drill, grab your juice and small chops and let’s hammer it out.
First Week, New Highs!
Call it a strong start to what-we-hope-would-be a better year, the stock market ends its first week at new highs. Higher everyday, I’m going higher everyday 😉 Despite the chaos in DC and a disappointing jobs report, stocks ended the first week of 2021 with solid gains and new highs. Music to my ears, baby. The S&P rose 0.55% to 3824.68 and the Dow advanced 0.18% (or nearly 57 points) to 31,097.97. The Nasdaq Composite Index did +1.03% (climbed 326.69 points), or 2.6%, to reach a milestone at 13,067.48, a closing high.
Dense numbers, I know, but the gist of it is that the markets hit an all time high to close out the first week of the year!
Two Stock Highlights
- Apple: Among the top Dow Jones stocks, Apple rose 0.9% on Friday, further recovering from its earlier-in-the-week slow start. Analysts are saying Apple shares are approaching a new buy point at 138.89, according to IBD MarketSmith chart analysis.
- Microsoft Stock: Software giant Microsoft also inched up 0.6% on Friday. Analysts are also saying that the stock is forming a base with a proper buy point at 228.22.
MSCI Emerging-Markets Index Rose to Record
According to Bloomberg, the emerging-market equity benchmark rose to a record, and overtook its previous high before the 2008 financial crisis. The sentiments that arguably propelled the move is the flood of liquidity and optimism over a global economic rebound in fuel risk appetite. The MSCI Emerging Markets Index rose 2.4% to 1,353.53 points as of market close on Friday, recovering about 80% from the lows of March 2020. The milestone comes after stock valuations and market capitalization both reached record highs in a rally that’s added $10.8 trillion in a little over nine months, the fastest bout of wealth creation in the history of emerging markets.
May 2021 continue to print cash for us!
Crude Oil, Rises from the Ashes?
On Tuesday, Saudi Arabia, the number one producer of oil announced that it will cut an additional million of barrels per day from its production in February and March 2021. This announcement resulted in an 8% surge in the price of oil which demonstrated a boom for the oil market in the new year. However, the more pressing issue is that the demand for fuel, particularly gasoline, is still very much on the decline and inventories of diesel and its distillates are still sitting pretty. We’ll have to see what becomes of oil when the US President-elect, Joe Biden, takes office later this month.
Recovery is perhaps better late than never?
The Wonder Working God of Elon
We couldn’t leave without touching on the bedazzlement of Tesla and Elon. The real OPP (Opor Opor). Did I hear you say KPK (Ko Por Ke)? Na famm! Jokes aside though, it is no longer news that the King of Electric Vehicles is now the richest man in the world. Tesla’s stock is literally on wheels of steel. Un-freaking-believable. The stock has hit another all time high at $884 which represents about an 8% increase in price. From Monday trading day to Friday closing of trade, Tesla shares rallied 24.71%, which is a +$174.35 to the price.
…and there you have it for the week!
Gentle Reminders:
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How you come through knowing you’re going to have a fabulous week ahead:
Love. Light.
…and everything Bright!
XOXO
