Researches By 3spa
Another volatile week for U.S. stock markets with conflicting economic data adding uncertainty in
the face of this week’s FOMC meeting. President Biden’s tax-hike plan, weakening Chinese growth,
continued Covid concerns, a slightly lower-than-expected increase in CPI and much stronger-thanforecasted retail sales left markets unsettled and increased uncertaintly regarding possible Fed
actions at the 2-day FOMC meeting beginning Tuesday this week. All three major U.S. indexes, up
around 0.4% through Thursday, ended the week in the red after falling between ½ and 1 percent on
Friday. 10-year U.S. Treasury rates reflected this uncertainty, too, falling 6bps through Tuesday
(following the CPI release) and then increasing 8bps the remainder of the week. Similary, the DXY
Dollar Index, unchanged through Wednesday, strengthened almost ¾ percent over Thursday and
Friday. For the week, the S&P 500 Index fell -0.6% to 4,432.99, the Nasdaq Composite Index
dropped 0.5% to 15,044.00, the Dow Jones Industrial Average fell 0.1% to 34,584.88, the 10-year
U.S. Treasury rate increased 2bps to 1.36% and the U.S. dollar (as measured by the ICE U.S. Dollar
index - DXY) strengthened 0.7% percent.
Topic: Telecoms , Financials , Basic Materials , Energy , Healthcare , Industrials , Consumer Staples , Technology
Publication Type: Market Commentaries
The Long and Short of it, week ending 17 Sep 2021
21 September, 2021 | GraniteShares
Another volatile week for U.S. stock markets with conflicting economic data adding uncertainty in
the face of this week’s FOMC meeting. President Biden’s tax-hike plan, weakening Chinese growth,
continued Covid concerns, a slightly lower-than-expected increase in CPI and much stronger-thanforecasted retail sales left markets unsettled and increased uncertaintly regarding possible Fed
actions at the 2-day FOMC meeting beginning Tuesday this week. All three major U.S. indexes, up
around 0.4% through Thursday, ended the week in the red after falling between ½ and 1 percent on
Friday. 10-year U.S. Treasury rates reflected this uncertainty, too, falling 6bps through Tuesday
(following the CPI release) and then increasing 8bps the remainder of the week. Similary, the DXY
Dollar Index, unchanged through Wednesday, strengthened almost ¾ percent over Thursday and
Friday. For the week, the S&P 500 Index fell -0.6% to 4,432.99, the Nasdaq Composite Index
dropped 0.5% to 15,044.00, the Dow Jones Industrial Average fell 0.1% to 34,584.88, the 10-year
U.S. Treasury rate increased 2bps to 1.36% and the U.S. dollar (as measured by the ICE U.S. Dollar
index - DXY) strengthened 0.7% percent.
