Equity Markets roared back to new All-Time-Highs this week, erasing their losses from early March. The Russell 2K Small Cap index rose 7% this week and is now up 19% Year to Date (YTD). Also up on the week was the Dow Jones (4%) and the S&P500 (3%). The tech heavy Nasdaq which, as of last week, was down 10% YTD, rose 2% this week and is now back in positive territory for 2021. Analysts attribute this market upsurge to President Biden’s massive COVID relief bill passed Thursday and expect it to continue. An eligible family of 4 could see a $5600 payment in their bank account as early as Monday, March 15th. 70% of respondents in 1 recent survey said they planned to invest most, if not all, of the money they receive. Thus the 2021 law could be a boon to Wall Street and Main Street alike.
Stay tuned for an invite to participate in our upcoming webinar explaining key tax and financial aspects of the new stimulus law – The American Rescue Plan Act of 2021.
INDEX | CLOSE (Fri 2/12/21) | %CHG WEEK | %CHG MONTH | %CHG YTD |
S&P 500 | 3943 | 2.6% | 0.2% | 5% |
NASDAQ | 13,320 | 2% | -6% | 0.6% |
DOW JONES | 32,779 | 4% | 4% | 7% |
RUSSELL 2K | 2353 | 7% | 3% | 19% |