October 2021 Economic Dashboard

Major U.S. stock market indices rebounded to new all-time highs in October following September declines. Crude oil benchmarks climbed to multi-year highs while natural gas remained elevated. Third quarter real GDP grew 2.0% annualized, with the delta variant, moderating fiscal stimulus, supply chain shortages, and subdued labor participation weighing on the economic recovery. Consumer spending… Read More »

September 2021 Economic Dashboard

Major stock markets declined in September, ending the third quarter with mixed results. The Fed has indicated a future reduction in the COVID-related purchases of treasuries and mortgages in the months ahead. At quarter end, Congress had not agreed to lift the debt ceiling. Despite the domestic headlines, the U.S. stock market outperformed again in… Read More »

August 2021 Economic Dashboard

August was a relatively calm month for markets. Economic data continued to show inflation running hot, but not broad-based. Autos, especially used, account for roughly 1/3 of the rise in the consumer price index. Markets continued to shrug off inflation data. Most major indices climbed higher in August, with the S&P 500 rising 2.9%. Commodities play a crucial role… Read More »

July 2021 Economic Dashboard

July marked another positive month for U.S. equities, with the S&P 500 and Dow Jones Industrial Average posting gains of 2.8% and 1.3%, respectively. A majority of S&P 500 companies reported second quarter earnings results during the month. Aggregate S&P 500 earnings are on track for an all-time high while easily clearing the prior year’s… Read More »

June 2021 Economic Dashboard

All major U.S. stock market indices posted another strong quarter of gains as the economy continued to reopen. The confluence of pent-up demand, prior government stimulus, and record household savings fueled robust consumer spending. The pandemic-induced shift in spending to goods continued early in the quarter. Spending began to shift back to services later in… Read More »