Market Commentary — January 11, 2021
2020 was an unprecedented year, both personally and professionally. Here is the link to our EQM Capital Market Recap and Predictions for the coming year entitled:
The ‘Year of Living Dangerously’ and Our Predictions for 2021
Despite one of the most tumultuous weeks in our nation’s political history with the assault on the U.S. Capitol, markets continued their march to record highs. With the Democrats winning two Senate seats in the Georgia runoff election and effectively achieving unified control of the government, it increases the likelihood of more fiscal stimulus. This appeared to be the major factor driving gains.
Small caps outperformed large caps by a wide margin and value stocks outpaced growth names. Energy stocks rallied on the news that Saudi Arabia was cutting production.
Rumors that Tencent and China might be added to the list of Chinese companies delisted by the NYSE, as the Trump administration moves to ban Chinese payment apps, also spooked markets last week.
Hoping for a calm week ahead.
CEO and Co-Founder