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Market Recap (April 20 2021)

April 20, 2021
The major U.S. Indices (S&P 500, Dow Jones, and NASDAQ) all rose for the third week in a row - making a strong start to the second quarter. Recent economic data continues to build a compelling case that the U.S. economy is on the mend.
Retail sales rose 9.8% from February to March. Spending in the restaurant sector increased 13.4% as more people ventured out. Most economists predict the increase in consumer spending will trend for the next 12 months - much like a compressed coiled spring.
Amongst the positive news, we also face setbacks, like the temporary pause in Johnson & Johnson vaccine administration. According to the CDC, half of U.S. adults have received at least one COVID vaccine dose - a slower pace than many had hoped for.
Looking forward, consider again the compressed coiled spring of our economy. Factors that help the spring expand include continued reopening of our economy, decreased unemployment and continued stimulus spending. Alternatively, rising prices for goods and services, inflation, or rising interest rates could stall the expansion.