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The Financial Realities of Elder Care & Long-Term Care Insurance
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Stocks climbed higher in April on the heels of strong first-quarter corporate earnings reports and encouraging employment data. Vaccine distributions increased and several states relaxed COVID-related restrictions. More stimulus checks were given out, which encouraged consumer spending.
The number of jobless claims decreased, while nearly 1,000,000 new jobs were added. The Federal Reserve noted that the economy was improving, but that accommodative measures would remain in place. President Biden offered a plan to infuse nearly $2 trillion of capital into the United States infrastructure, to be paid for by a slew of corporate tax increases. Each of the benchmark indexes listed here posted solid monthly gains in April, led by the Nasdaq, followed by the S&P 500, the Global Dow, the Dow, and the Russell 2000. Year to date, the Russell 2000 remains well ahead of its 2020 closing value, followed by the Global Dow, the S&P 500, the Dow, and the Nasdaq.
The market sectors ended the month higher, with communication services and consumer discretionary advancing 10.0% and 8.0%, respectively. Information technology (6.8%), financials (6.2%), and real estate (6.2%) were the other sectors enjoying a notable monthly boost. The yield on 10-year Treasuries fell 11 basis points in April. The dollar declined. Crude oil prices climbed 7.0% to close at $63.50 per barrel. Gold advanced for the second consecutive month. The national average retail price for regular gasoline was $2.872 on April 26, $0.020 higher than the March 29 selling price of $2.852, and $1.099 more than a year ago.
MARKET/INDEX | AS OF 4/30 | PRIOR MONTH | 2020 CLOSE | MONTHLY CHANGE | YTD CHANGE |
---|---|---|---|---|---|
DJIA | 33,874.85 | 32,981.55 | 30,606.48 | 2.71% | 10.68% |
NASDAQ | 13,962.68 | 13,246.87 | 12,888.28 | 5.40% | 8.34% |
S&P 500 | 4,181.17 | 3,972.89 | 3,756.07 | 5.24% | 11.32% |
RUSSELL 2000 | 2,266.45 | 2,220.52 | 1,974.86 | 2.07% | 14.77% |
GLOBAL DOW | 3,924.14 | 3,813.59 | 3,487.52 | 2.90% | 12.52% |
FED. FUNDS | 0.00%-0.25% | 0.00%-0.25% | 0.00%-0.25% | 0 BPS | 0 BPS |
10-YEAR TREASURIES | 1.63% | 1.74% | 0.91% | -11 BPS | 72 BPS |
US DOLLAR-DXY | 91.26 | 93.23 | 89.84 | -2.11% | 1.58% |
CRUDE OIL-CL=F | $63.50 | $59.32 | $48.52 | 7.05% | 30.87.02% |
GOLD-GC=F | $1,768.20 | $1,708.40 | $1,893.10 | 3.50% | -6.60% |
Chart reflects price changes, not total return. Because it does not include dividends or splits, it should not be used to benchmark performance of specific investments.
May should see continued economic recovery. As more people are vaccinated, the number of reported COVID-19 cases should decrease. Businesses hit hardest, such as restaurants and airlines, are expected to see a significant uptick in activity. Investors, encouraged by these economic advances, are likely to continue to favor stocks.
Data sources: Economic: Based on data from U.S. Bureau of Labor Statistics (unemployment, inflation); U.S. Department of Commerce (GDP, corporate profits, retail sales, housing); S&P/Case-Shiller 20-City Composite Index (home prices); Institute for Supply Management (manufacturing/services). Performance: Based on data reported in WSJ Market Data Center (indexes); U.S. Treasury (Treasury yields); U.S. Energy Information Administration/Bloomberg.com Market Data (oil spot price, WTI, Cushing, OK); http://www.goldprice.org (spot gold/silver); Oanda/FX Street (currency exchange rates). News items are based on reports from multiple commonly available international news sources (i.e. wire services) and are independently verified when necessary with secondary sources such as government agencies, corporate press releases, or trade organizations. All information is based on sources deemed reliable, but no warranty or guarantee is made as to its accuracy or completeness. Neither the information nor any opinion expressed herein constitutes a solicitation for the purchase or sale of any securities, and should not be relied on as financial advice. Past performance is no guarantee of future results. All investing involves risk, including the potential loss of principal, and there can be no guarantee that any investing strategy will be successful.
The Dow Jones Industrial Average (DJIA) is a price-weighted index composed of 30 widely traded blue-chip U.S. common stocks. The S&P 500 is a market-cap weighted index composed of the common stocks of 500 largest, publicly traded companies in leading industries of the U.S. economy. The NASDAQ Composite Index is a market-value weighted index of all common stocks listed on the NASDAQ stock exchange. The Russell 2000 is a market-cap weighted index composed of 2,000 U.S. small-cap common stocks. The Global Dow is an equally weighted index of 150 widely traded blue-chip common stocks worldwide. The U.S. Dollar Index is a geometrically weighted index of the value of the U.S. dollar relative to six foreign currencies. Market indices listed are unmanaged and are not available for direct investment.
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