A Snapshot of the Market for the Week Ended August 27, 2021:
The stock market has been on a tear as the driver shifted from multiple expansion to earnings growth. The S&P 500 hit its 52nd all-time of the year. It pulled back on Thursday as the quants had anticipated but recovered energetically on Friday because Powell’s address was inoffensive. The benchmark closed at 4509 by the end of the week, registering a 67-point gain for a 1.5% weekly increase.
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By Hubert Marleau
By Hubert Marleau