Uncertainty. That could be the best way to describe the current state of the markets. From the Federal Reserve and current economic trends, to the resurgence of the pandemic and political turmoil, traders have had a hard time making a go at the current state of affairs. This continued throughout the last trading week.
Data throughout the week painted a mixed picture. The resurgence of the COVID-19 virus and new Delta variant has had its effect on several economic metrics. Manufacturing, inflation and consumer data all showed a bullish, yet reserved, picture for the U.S. economy.
Elsewhere, earnings were also mixed, and painted a cautious picture. Once again, COVID-19 worries and the delay of office openings were the talk of many reports. M&A actions continued throughout the week, however. As did IPO activity, which saw 12 new firms launch on the public exchanges.
All in all, the week moved forward in a slow grind, as traders flipped back and forth.
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