Market Recap 18/10/2021

  • Market Recap 18/10/2021


    Market Recap

    October 18th, 2021

    Markets

    Strong economic signals and positive earning surprises propelled a risk-on sentiment.  The S&P MidCap 400 (2.2%) broke an all-time (intraday) high, joining the rally of its large-cap (1.6-2.2%) counterparts.  The VIX (16.6%) dropped back to August levels of 16

    Sectors

    Materials (3.6%), real estate (3.5%) and consumer discretionary (3.5%) led the markets.  Communication services (0.4%) was the only sector to finish in red, weighed down by traditional media

    Rates

    The US yield curve flattened as investors considered the spike in inflation as transitory.  The MOVE index (2.9%) notched higher

     

    Commodities & FX

    Oil (4.6%) rallied for the 8th week on the back of natural gas (2.8%) shortages in Europe.    Gold (0.6%) and silver (2.9%) rose, while the USD (0.2%) edged lower vs. major currencies basket

    Last Week's Headlines

    Our Favorite Charts

    US CPI Inflation

    Source: Oxford Economics

    Israeli High-Tech Capital Raising (VC & Startups, Q1/2015 – Q3/2021)

    Source: IVC, Meitar

    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.