Riding the Wave: Stocks Hit New Records in a Bullish Market

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No Cap-Recap

As usual, the markets have been volatile and uncertain due to the ongoing COVID-19 pandemic.

The Dow Jones Industrial Average (DJIA) had a positive start to the week, rising 1.1% on Monday. The S&P 500 and Nasdaq Composite both posted more modest gains of 0.9% and 0.7%, respectively. Tuesday saw markets drop, as the DJIA dropped 0.7% and the S&P 500 and Nasdaq Composite both dropped 0.6%. Wednesday saw the DJIA and S&P 500 both drop 0.1%, while the Nasdaq Composite gained 0.2%.

Thursday was a positive day for the markets, with the DJIA rising 0.4% and the S&P 500 and Nasdaq Composite both rising 0.3%. This pushed the DJIA to a one-month closing high. Friday saw the DJIA and S&P 500 gain 0.3% while the Nasdaq Composite gained 0.2%.

This week saw the S&P 500 and Nasdaq Composite reach their highest closing levels since February 21st and the Dow Jones Industrial Average reach its highest level since February 12th.

A number of companies reported their first quarter earnings this week. Apple had a 7.2% year-over-year drop in revenue, but their stock price still rose 5.8%. Microsoft, on the other hand, had a 2.7% year-over-year increase in revenue with its stock price rising 6.2%.

As far as economic data, U.S. consumer spending fell 7.5% in January and the U.S. Economy shrank at an annual rate of 4.8% in the first quarter of 2022. This marked the worst drop in GDP since the 2008-09 financial crisis.

As always, keep an eye on the news and developments. It's important to stay informed, but don't forget to consult a financial advisor before making any investment decisions.

Position of the Week - Pfizer(PFE)

This week we added Pfizer to our portfolio so if you're looking to make a smart investment, you should definitely consider buying Pfizer stock. This pharmaceutical giant has a long history of success, and they're only getting stronger. Pfizer has a wide range of products that are in high demand, and they're always working on new and innovative treatments. Recently, they've had some major breakthroughs in COVID-19 vaccine development, and that's just the tip of the iceberg. As the population continues to age, the demand for healthcare products and services will only increase, and Pfizer is perfectly positioned to take advantage of that trend.