The S&P 500 (Index: SPX) breached the 4,400 level before closing the trading week ending 23 July 2021 at 4,411.70 - a new record high for the index.
As you can see in the following chart, that's right in line with where the dividend futures-based model says it should be when investors are keeping their focus on 2022-Q1 in setting current day stock prices.
The past week didn't have much news coming out from the Fed's minions, who are currently incommunicado in news blackout period ahead of its 27-28 July 2021 meetings. The news blackout will lift on Wednesday, 28 July 2021, after which investors can expect the Fed's minions to shift into overdrive and deliver a torrent of news.
Meanwhile, there was news, but a lot less of it during the week that was. Here is our summary of its market-moving news headlines:
- Monday, 19 July 2021
- Signs and portents for the U.S. economy:
- U.S. homebuilder confidence falls to 11-month low in July
- Oil piles on losses following OPEC+ deal to boost supply, rising COVID cases
- U.S. recession ended in April 2020, making it shortest on record
- Biden says inflation temporary; Fed should do what it deems necessary for recovery
- Central banks talking about ending pandemic stimulus:
- What might the Bank of England do to wean the UK economy off stimulus?
- Inflation and the Bank of England: what its rate-setters are saying
- BoE's Haskel sees no need to curb stimulus in foreseeable future
- South Korea poised to kick-start Asia's monetary tightening
- Strategy Review, tick, next? Five questions for the ECB
- Wall Street ends sharply lower as Delta variant sparks new lockdown fears
- Tuesday, 20 July 2021
- Signs and portents for the U.S. economy:
- U.S. housing starts rise, building permits fall to eight-month low
- U.S. states ending federal unemployment benefit saw no clear job gains
- Bigger inflation developing all over:
- Canadian home prices climb in June at record annual pace -Teranet
- U.S. housing starts rise, building permits fall to eight-month low
- Bigger stimulus developing in Australia:
- Global trade, supply chain problems growing:
- Taiwan June export orders surge again, outlook bullish
- Electrolux braces for more disruptions from global supply chain squeeze
- Wall Street bounces back on renewed economic optimism
- Wednesday, 21 July 2021
- Signs and portents for the U.S. economy:
- COVID recovery in US, China/COVID recession in Australia:
- Japan's exports jump on solid U.S., China demand
- June slump in Australia's retail sales clouds third-quarter growth outlook
- Wall Street ends higher, powered by strong earnings, economic cheer
- Thursday, 22 July 2021
- Signs and portents for the U.S. economy:
- U.S. housing market floats back to earth
- U.S. weekly jobless claims increase to two-month high; trend still low
- COVID controlling Australia's economy:
- Bigger inflation on the minds of the BOE's minions:
- ECB minions on board with bigger inflation in Eurozone; fear another pandemic wave:
- ECB promises even longer support for euro zone economy
- ECB pledges record low rates to reach 2% inflation
- TEXT-Statement from the ECB following policy meeting
- TEXT-Lagarde's statement after ECB policy meeting
- Lagarde comments at ECB press conference
- Lagarde's communication revolution falls short of hype: analysts
- Stocks near record high after ECB talks of 'forceful' support
- ECB sees some risks to outlook from fresh pandemic wave
- Wall Street closes up after choppy trading due to higher jobless claims
- Friday, 23 July 2021
- Signs and portents for the U.S. economy:
- Bigger inflation developing all over:
- Rapid German recovery triggering inflation bottlenecks - PMI
- Russia raises key rate to 6.5% in sharpest move since 2014
- ECB minions expect higher growth and inflation, "totally" on board with more stimulus, but don't expect to know how much anytime soon:
- ECB survey sees higher growth, inflation in next 2 years
- ECB policymakers don't expect to decide on bond buys in September -sources
- U.S. stock markets hit new highs, Treasury yields up as choppy week ends
If you’re looking for market news about a specific company or the history of its stock prices, Yahoo! Finance is a very useful resource, particularly for the latter, where we’ve linked to its price history for the S&P 500.
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Closing values for previous trading day.
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