The S&P 500 index rose 2% last week, wiping out the prior week’s and Monday’s sharp decline — sending the market benchmark to fresh record highs. Many sectors, including communication services and consumer discretionary were boosted by better-than-expected second quarter financial results.
In the week prior, the S&P 500 fell 1% amid worries about inflation. The index continued to drop on Monday due to increasing concerns about the rise in COVID-19 cases, amid the spread of highly-contagious Delta variant. But the index recouped those losses over the remainder of the week.
This week comes one of the biggest market results of the week. Listen for more.
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Bautis Financial Advisor Commentary: July 23, 2021