Market Commentary — March 29, 2021

Markets were mixed again last week, as investors continue to weigh reopening optimism against higher inflation and interest rate concerns. Small caps lagged for the second consecutive week, suggesting yet another reversal in market leadership.

The closure of the Suez Canal because of a disabled cargo ship (send us your favorite meme) raised worries about the global supply chain, but helped boost the prices of oil and energy stocks.

There are conflicting signals regarding pandemic progress. Last Monday, investors were encouraged by AstraZeneca’s data results from U.S. vaccine trials, only to be disappointed that the data was outdated and then pleased again when the revised results released on Wednesday showed a dip in efficacy to 76% from 79%, which is still pretty good if you can shrug off blood clot fears.

Stocks were pressured by rising infection rates in many states and renewed lockdowns in Europe. But investors were heartened on Thursday by President Biden’s announcement that the new goal is to vaccinate 200 million Americans during the first 100 days of his administration instead of 100 million. Several states, including California, also announced it would be opening vaccination to all residents above age 16.

And finally, for some non-pandemic-related news, Fidelity threw its hat into the ring and announced plans to launch a Bitcoin ETF. FD Fund Management, a subsidiary of Fidelity, says it intends to provide financial backing for an ETF called the Wise Origin Bitcoin Trust.

Speaking of which, let’s have some fun! The first person to email us the meaning behind the “Wise Origin” name will receive a $100 Amazon gift card.

Jane Edmondson
CEO and Co-Founder

Share this Market Commentary


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.


The information provided on this page is for illustrative purposes only and is not intended to serve as investment advice. The information provided is as of particular time and subject to change at any time without notice.

It is not possible to invest directly in an index. Exposure to an asset class represented by an index is available through investable instruments based on that index. EQM Indexes does not sponsor, endorse, sell, promote or manage any investment fund or other investment vehicle that is offered by third parties and that seeks to provide an investment return based on the performance of any index. EQM Indexes Indices makes no assurance that investment products based on the Index will accurately track index performance or provide positive investment returns. EQM Indexes is not an investment advisor, and makes no representation regarding the advisability of investing in any such investment fund or other investment vehicle. A decision to invest in any such investment fund or other investment vehicle should not be made in reliance on any of the statements set forth in this article. Prospective investors are advised to make an investment in any such fund or other vehicle only after carefully considering the risks associated with investing in such funds, as detailed in an offering memorandum or similar document that is prepared by or on behalf of the issuer of the investment fund or other vehicle. Inclusion of a security within an index is not a recommendation by EQM Indexes to buy, sell, or hold such security, nor is it considered to be investment advice.