June 2021 | Pence Perspectie The opinions expressed are for general information purposes only and are not intended to provide specific advice or recommendations for any individual. To determine which strategies or investments may be suitable for you, consult the appropriate qualified professional prior to making any decision. All performance referenced is historical and is no guarantee of future results. All indices referenced, if any, are unmanaged and may not be invested into directly. The opinions expressed in this material are those of Pence Wealth Management and do not necessarily reflect the [...]
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Daily Market Report | June 08, 2021 Stocks Waver, With Tech Extending Gains – Wall Street Journal, 6/8/2021 A jump in technology shares pushed the Nasdaq Composite index up 0.1% Tuesday morning, pointing to a third consecutive day of gains for the index of technology and growth stocks. The broad S&P 500 index and the Dow Jones Industrial Average both slipped. On Monday, the blue-chip index briefly climbed into record territory before ending the session down 0.4%. In corporate news, Tesla rose 0.2% after data from the China Passenger Car Association showed sales of [...]
Daily Market Report | June 07, 2021 Stocks Wobble at Start to the Week – Wall Street Journal, 6/7/2021 Major U.S. stock indexes slipped on Monday, in a subdued start to the week after closing near record levels last week. U.S. stock indexes have been mostly muted in recent trading sessions, with investors assessing a range of factors including the economic outlook, supply-chain problems and high valuations for stocks. While inflation expectations have eased in recent days, investors remain on edge for signs that Federal Reserve officials may consider pulling back on easy money [...]
Daily Market Report | June 04, 2021 Stocks Climb After Jobs Report – Wall Street Journal, 6/4/2021 U.S. stocks rose Friday, heading for slight weekly gains, after the monthly employment report showed the labor market continued its slow recovery in May. The Dow Jones Industrial Average gained 138 points, or 0.4%, to 34715 shortly after the opening bell. The S&P 500 added 0.5%, while the Nasdaq Composite advanced 0.7%. Labor Department data showed the U.S. economy added slightly fewer jobs than economists had expected, while the unemployment rate fell more than expected. Together, the [...]
Daily Market Report | June 03, 2021 Stocks Fall, Led by Retreat in Technology Stocks – Wall Street Journal, 6/3/2021 U.S. stocks fell Thursday, pulled lower by tech stocks, as fresh weekly data showed a continued recovery in the labor market. The S&P 500 fell 0.7% after it ticked 0.1% higher on Wednesday. The Dow Jones Industrial Average dropped 0.5% and the Nasdaq Composite lost 1.1%, dragged down by tech stocks that had run higher when the economy was weaker. Two reports on Thursday painted a picture of an improving labor market. The latest [...]
Daily Market Report | June 02, 2021 Meme Stocks Surge as Major Indexes Tick Higher – Wall Street Journal, 6/2/2021 Major U.S. stock indexes edged higher Wednesday as concerns around the consequences of a strong economic recovery, marked by inflation, continued to buffet the market. The S&P 500 rose 0.2% in recent trading, with the index fluctuating above and below the flatline during the session’s opening hour. Both the Dow Jones Industrial Average and Nasdaq Composite also waffled, both rising about 0.1%. Tech stocks, specifically chip makers, led the market higher. Modest advances among [...]
Daily Market Report | June 01, 2021 Stocks Climb Ahead of Manufacturing Data – Wall Street Journal, 6/1/2021 U.S. stocks climbed Tuesday to kick off the first day of June, as investors looked ahead to manufacturing data that will give fresh insights into the state of the economic recovery. The S&P 500 added 0.4% shortly after the opening bell, following a fourth consecutive monthly advance for the broad stocks gauge before the Memorial Day weekend on Friday. The Dow Jones Industrial Average rose about 155 points, or 0.4%. The technology-focused Nasdaq Composite gained 0.6%. [...]
2021 Pence Wealth Management - Memorial Day Message Happy Memorial Day! This Memorial Day I wish to share a personal note. The most emotionally difficult mission and yet greatest honor afforded me in my 30 year military career, was presiding over the Honor Guard at my father’s military funeral service at the National Cemetery in Fort Smith, Arkansas this past July. Eldon. D. Pence Jr. served as an Army physician during the Korean War and was Chief Resident in Panama. As I dropped to one knee and presented my mother his flag on behalf of “The [...]
Daily Market Report | May 26, 2021 Stocks Edge Up as Worries Around Inflation Abate – Wall Street Journal, 5/26/2021 U.S. stocks rose on Wednesday morning as investors grew more comfortable that the Federal Reserve and other central banks would maintain their economic support despite a near-term bout of inflation. Investors had worried that higher inflation would cause Fed officials to dial back the monetary policy that pulled markets back from the Covid-19 selloff last year. While officials in recent days have indicated they may begin discussing scaling back measures, they have stressed that [...]
Daily Market Report | May 25, 2021 Stocks Open Higher, Led by Tech – Wall Street Journal, 5/25/2021 Major U.S. stock indexes opened higher Tuesday, putting stocks on course for a second day of gains led by technology companies, while bitcoin prices edged lower after a period of volatile trading. The broad S&P 500 index rose 0.3%, while the blue-chip Dow Jones Industrial Average gained 0.2%. The Nasdaq-100 rose 0.4%, putting technology stocks for gains a day after they led broader markets higher. Stocks jumped to start the week, as recent comments from Federal [...]