Market Recap 13/12/2021

  • Market Recap 13/12/2021


    Market Recap

    December 13th, 2021

    Markets

    Stocks rebounded in the strongest weekly gain since February as fears of the Omicron variant receded.  The Dow Jones (4.0%), S&P 500 (3.8%) and Nasdaq (3.6%) all rallied.  The VIX (39.1%) tumbled back to 18

    Sectors

    Growth outperformed value by roughly double the gain.  IT (6.0%) led the markets by a wide margin in a risk-on sentiment, pulled by Apple as the company nears a $3t market-cap.  Consumer discretionary (2.5%), utilities (2.6%), and financials (2.6%) also gained handsomely

    Rates

    US CPI rose to 6.8% for the last 12 months, the highest since 1982, while Core CPI (excluding the volatile food and energy prices) rose to 4.9%, the highest since 1991.  The US10y (12.6 bps) erased the previous week’s decline and rose back to hover around 1.5%.  The MOVE (6.0%) index declined

    Commodities & FX

    Oil (8.2%) reversed its 5-week declines to settle around $70 as the Omicron impact fears eased.  Gold (0.0%) and silver (1.6%) were little changed, and the USD (0.1%) remained generally muted for the third week vs. major currencies basket

    Last Week's Headlines

    Our Favorite Charts

    Adobe Digital Price Index and the US Consumer Price Index, Year over Year Price Change

    Source: Adobe

    ESG Net Investment Funds Flows

    Source: Bloomberg, Lipper, Morningstar, UN PRI, IMF

    Market Performance

    Disclaimer

    This document is intended for informational purposes only and does not constitute an offer, recommendation, advice or invitation to enter into any transaction or investment, including but not limited to the purchase and/or sale and/or holding of securities and/or financial assets described herein.  Analysis presented herein is based on information provided by external sources believed to be reliable, and assumptions which may change or not materialize.  Levy Heritage did not independently verify the information and does not attest to its accuracy.  Levy Heritage assumes no responsibility for errors or omissions in this document.  Past performance is no guarantee of future results.  Each investor has different goals and therefore should seek further personalized professional advice in relation to any investment which will take into account the investor’s specific data, circumstances and needs.  Each investment involves risks and cannot be given a guarantee that the investment objectives or return on investment will be achieved, in full or in part.  Levy Heritage does not provide legal or tax advice, and recommends that all people considering such advice consult with independent legal, tax and other relevant professional advisors in their countries of origin or residence.  The information contained in this document is confidential, privileged and only for the information of the intended recipient and may not be used, published or redistributed.  Levy Heritage and/or its affiliated companies and/or its shareholders and/or employees shall not bear any responsibility for any damage and/or loss caused by the use of the enclosed information.