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Investors Have a Sharp Focus on Earnings this Week

U.S. equities continued to shake off their September lethargy last week, on their way to establishing a new all-time high. The S&P 500® index climbed another 1.6 percent, bringing its October gain to 5.5 percent, more than erasing the 4.8 percent September decline, and leaving the index higher by 21.0 percent on the year. Before a fractional selloff on Friday, it established a new closing high of 4549 on Thursday. Particular strength was seen in Real Estate, Healthcare, and Financials, but there was general strength across the board. 

Minnesota Team with $250 Million Joins Ameriprise to Provide “Best-in-Class Experience” for Clients

MINNEAPOLIS – October 21, 2021 – Christensen Wealth Advisory Group, a wealth management practice managing in excess of $250 million in client assets in Edina, Minnesota, joined the branch channel of Ameriprise Financial, Inc. (NYSE: AMP) from Wells Fargo. Private Wealth Advisor Jeremy Christensen leads the team, which includes financial advisors Bruce Olson and Anthony Tsakakis, and registered client service associate Cheryl Larsen. The team evaluated the marketplace for more than two years before deciding on Ameriprise, which they chose for its extensive client experience, financial planning, and practice management capabilities.

Signs of Economic Strength Send Stocks Higher

U.S. stocks enjoyed their best weekly gain since July last week, as the S&P 500® Index rose 1.8 percent. In the process, the index recaptured its 50-day moving average, after spending two weeks flirting with its 100-day moving average. Investors chose to overlook the rise in the September consumer price index from 5.3 to 5.4 percent, and another almost $3 a barrel increase in the price of oil. The focus instead was on solid third quarter bank earnings, which set a positive tone to the start of earnings season, and core inflation which was unchanged at 4.0 percent.

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