Market Commentary — June 28, 2021

Stocks rebounded from the previous week’s declines, taking the S&P 500 and NASDAQ indexes to new highs, recording their best gains since April.

Energy shares continued their rally, as oil prices reached their highest levels since October of 2018. Despite higher oil prices, the moderating inflation signals for other commodity prices such as lumber and metals helped calm the market. And Bloomberg reported that the wholesale used car auction market had peaked.

The market also got a boost from the agreement on a bipartisan infrastructure deal, as the Senate agreed on a plan for $1 trillion in infrastructure spending over the next 5 years.

Next week’s jobs report is expected to move markets next week heading into the end of the quarter.

Just so you know, the market almost always trades up on my birthday, July 1st, so trade accordingly and have a happy fourth of July.

Jane Edmondson
CEO and Co-Founder

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EQM Indexes LLC is a woman-owned firm dedicated to creating and supporting innovative indexes that track growth industries and emerging investment themes. Co-founded by Jane Edmondson, a former Institutional Portfolio Manager with more than 25 years in the investment industry.

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