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Marin Wealth Advisors

Marin Wealth Advisors, LLC.

Registered investment Advisor

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Market Recap Week Ending May 7

May 8, 2021

Market Recap Week Ending May 7

The week in review…Dow +914 or +2.7%, Nasdaq (210) or (1.5%), and the S&P +51 or +1.2%. While the week was dominated by more great earnings reports, the economic data started to moderate a bit. One manufacturing number came in even with expectations while another missed significantly. The services number beat but non-manufacturing missed significantly. Initial jobless claims were better, but the April jobs number was an unmitigated disaster. Add to this cauldron of information a rare, off message gaffe from Secretary of the Treasury Yellen, and it all added up to a very odd week. The Dow and the S&P closed Friday at record levels but the 10-year U.S. Treasury yield fell from 1.625% to 1.57%, perhaps showing some fear in the marketplace. Earnings will start to tail off next week, but we have some good ones to watch; Coinbase and Roblox report their first quarters as public companies and Thursday we get Disney, DoorDash, and Airbnb.
 
What we are watching next week…

 

Monday – Marriott International (MAR 4c on $2.38b): should the trend continue, MAR should miss their numbers by a wide margin (see H, HLT, CZR). Roblox (RBLX 8c on $573mn) reports their first quarter as a public company.
Tuesday – Electronic Arts (EA $1.06 on $1.4b), Palantir (PLTR 4c on $332mn).
Wednesday – Applied Materials (AMAT $1.50 on $5.39b), Consumer Price Index, Core CPI.
Thursday – Disney (DIS 27c on $15.86b), DoorDash (DASH -8c on $994mn), Airbnb (ABNB -$1.05 on $718mn), Coinbase (COIN $2.98 on $1.81b) reports its first quarter as a public company, Jobless Claims.
Friday – April Retail Sales.

 

P.S. If you know of family or friends who could benefit from our services and these types of communiques, please know that we are here to help and are accepting new clients at this time.

 

Disclaimer: This is not a recommendation to either buy or sell any of the securities listed above. I personally, or a family member’s account for which I control, own the following…Bitcoin (coin), Cardano (coin), Chainlink (coin), Ethereum (coin), ETHE, GBTC, TSLA, and WKHS.

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    Marin Wealth Advisors LLC

    899 Northgate Drive, Suite 300
    San Rafael, CA 94903
    415-458-5880

    50 California St. Suite 1500
    San Francisco, CA 94111
    415-472-5885

    1901 Harrison Street, Suite 1100
    Oakland, CA 94612
    510-217-8100

    2121 California Blvd, Suite 290
    Walnut Creek CA 94596
    925-374-4899

    info@marinwealthadvisors.com

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