ROBARE & JONES ON THE MARKETS
The S&P 500 was just about flat this past week, weighed down by the consumer discretionary and communication services sectors down about 2.3 % and 1% respectively.
The consumer discretionary sector was weighed down by a 9% tumble in Amazon.com (AMZN) shares as the online retailer's Q2 sales missed analysts' mean estimate, as did its guidance for Q3 sales. The report sparked concerns that COVID-19 engendered gains were cooling off sharply.
With COVID-19 cases on the rise again in much of the US, the CDC recommended a resumption of indoor masking this week, even for people fully vaccinated against COVID-19, in areas with high or substantial transmission. This news was combated by a 6.5% rise in GDP for Q2, but was still below analyst expectations
The materials sector led to the upside with a 2.8% climb, followed by a 1.6% increase in energy and a 0.7% rise in financials.
Let's take a look at the markets from this past week!
FREE Medicare Webinar!
On August 18th from 11am to 12pm CST we will be hosting a FREE Medicare Webinar “Planning for Health Care Costs in Retirement” with Brad Angel, Sr. Vice President at Fidelity Investments.
With health care spending projected to grow 5.4% annually, health care costs remain one of the largest threats to retirement savings. The webinar will help you gain a better understanding of these costs, the coverage options available (including a heavy focus on Medicare) and the steps you can take to develop a plan.
If you would like to submit questions ahead of time, please feel free to respond to this email and we will gladly pass those along.
Sign up for the Webinar here!
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