MWM Weekly Update

The Week of September 6, 2021

MWM Weekly Update

The Week of September 6, 2021

“A fallen leaf is nothing more than a summer’s wave goodbye.”  

Greetings everyone,

We are just a hop, skip and a small jump away from Halloween, Thanksgiving, and believe it or not, Christmas. It’s time to think pumpkins, pumpkin lattes, warm coats, and snuggly sweaters. These are all things we will look forward to in the next several weeks.

So, is autumn your favorite time of year? I think it is mine. Have you ever visited Bauman’s farm in Gervais, Oregon? The family has been growing an abundance of fresh fruits and vegetables sold in the farm market since 1895 when their great-grandmother Elizabeth Bauman first planted the land. Four generations of our family visit the farm each fall where we have a great time in the animal petting zoo and the kids play area. We eat our share of fresh donuts and drink homemade apple cider. We always find wonderful produce and fresh baked pastries to bring home for a harvest dinner. The pictures below are from a couple of years ago, but you’ll get the idea – very happy kids.

Granddaughter Ashley Baldwin married Joe Hunt on Saturday, September 4th on their farm outside Canby. It was timed perfectly for the flattering evening light. Dinner was set with long tables aligning the garden with wildflowers and candles strategically placed for ambience.

I was asked to give a short toast to bless the couple and as I prepared my remarks, I remembered how special our relationship had been for all of Ashley’s life. She was my buddy. She helped me with family dinners. We talked about her interests in books, history, and art. Once I had her join me in Paris. She also planned a week of traveling in Europe. She wanted to see the American Cemetery and Memorial for WWII heroes in the Netherlands. She had a fascination with Germany and studied the language.

This day, her wedding day, was just perfect and very much Ashley and Joe. Their small farm is full of life and living.  Congratulations, kids. We wish you all the best of married life.

That Halloween tourism is big business? Halloween destination travel might be added to your list of spooky things to experience. You could start with a trip to Salem, Massachusetts during their Halloween festival, Haunted Happenings or you might choose to get even more spooky by visiting the Day of the Dead in Oaxaca, Mexico, a 3-day long celebration. The tradition goes back thousands of years. OK, perhaps we can think about these ideas for next year.

Judith McGee, L.H.D., CFP®, ChFC®
Executive Vice President and Senior Lead Advisor

In the Markets

  • Wall Street closed the week generally higher, with only the Dow dipping. Investors have the Labor Day weekend to weigh the effects of the somewhat lackluster jobs report for August. Last week, traders continued to move back to tech stocks and megacaps, driving the Nasdaq to record highs. Following the advancing Nasdaq was the Global Dow, the Russell 2000, and the S&P 500. Ten-year Treasury yields inched up, the dollar slipped, while crude oil prices rose less than $1.00 per barrel. Gold prices climbed for the second consecutive week. Year to date, the S&P 500 is nearly 21.0% higher than its 2020 closing mark, closely followed by the Nasdaq. Among the market sectors, energy, financials, industrials, and materials fell, while communication services, real estate, technology, consumer discretionary, health care, utilities, and consumer staples advanced.
  • Stocks closed last Monday mixed, with the Nasdaq (0.9%) and the S&P 500 (0.4%) reaching new highs, while the Dow (-0.2%) and the Russell 2000 (-0.5%) lagged. The Global Dow inched up 0.1%. Megacap growth stocks advanced, while value stocks and cyclicals fell. Among the sectors, real estate, information technology, consumer discretionary, and communication services performed well, while financials and energy declined. Ten-year Treasury yields dipped, crude oil prices were unchanged, and the dollar rose 0.4%.
  • Last Tuesday, equities ended August with monthly gains. Following last month's advance, the S&P 500 posted its strongest year-to-date increase since 1997. However, stocks opened September with mixed returns. The Dow, the S&P 500, and the Nasdaq declined 0.1%; the Russell 2000 advanced 0.3%; and the Global Dow ticked up 0.2%. Treasury yields rose, the dollar was mixed, and crude oil prices fell.
  • Stocks closed mostly higher last Wednesday, with only the Dow slipping. Megacaps helped push the Nasdaq and the S&P 500 higher. A surge in consumer staples drove the Russell 2000 up 0.6%. Real estate, utilities, and communication services advanced among the sectors, while energy and financials declined. Treasury yields, crude oil prices, and the dollar fell.
  • Wall Street closed higher last Thursday, with each of the major benchmark indexes posting gains. Energy and industrial shares helped drive the S&P 500 to another record high. Cyclical stocks outperformed tech shares. The small caps of the Russell 2000 (0.7%) led the indexes, followed by the Dow (0.4%), the Global Dow (0.3%), the S&P 500 (0.3%), and the Nasdaq (0.1%). Ten-year Treasury yields and the dollar declined for the third consecutive day. Crude oil prices rose, likely impacted somewhat by the aftermath of Hurricane Ida in the Gulf of Mexico.
  • A disappointing jobs report left equities mixed last Friday, although the Nasdaq managed to advance 0.2% — enough to reach a record high. Otherwise, stocks dipped lower on the day, with the Russell 2000 falling 0.5%, followed by the Dow (-0.2%) and the Global Dow (-0.1%). The S&P 500 closed essentially unchanged. Treasury yields advanced, while the dollar and crude oil prices slipped. Energy, financials, industrials, utilities, and materials fell by at least 0.5%.


This week includes a couple of potentially market-moving economic reports. The Job Openings and Labor Turnover Survey (JOLTS) report for July is available this week. The number of job openings increased to a series high of 10.1 million in June, with the largest increases in job openings occurring in professional and business services (227,000), retail trade (133,000), and accommodation and food services (121,000). The Producer Price Index for August is also out this week. Prices at the producer level have been rising steadily over the past several months and have risen 7.8% for the 12 months ended in July.

Source: Broadridge Investor Communication Solutions, Inc.

Articles & Education

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Although the one-two punch of rising interest rates and inflationary pressure set the global capital markets on shaky footing through much of 2022, the U.S. economy kept motoring ahead. How are financial conditions shaping up in the new year?

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Investment Term of the Week

Thought of the Week

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