Welcome to the FIA News & Insights, a one-stop resource that includes insights from senior investment professionals on timely market events, their views on the economy and their respective markets. Find updates on the latest media information on Frost Investment Advisors, LLC and the most recent reprints, as well as, archival information for your reference.
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Some mixed headlines last week included an increase in initial unemployment claims, comments from the Fed and the markets. However, the one particularly bright spot has been the housing markets. Despite fears of a potential virus resurge or a stimulus breakdown, people are increasingly on the move. The disappointing news of the uptick in the initial unemployment rolls was taken somewhat in stride by the markets, though, as investors bid up their tech-sector favorites over the week. By Friday’s close, the NASDAQ pulled ahead of the S&P 500, with both indexes trading in record territory. And considering the depths of the market pullback in March, the S&P recovery through last week, moving from the February 19th highs through the March 23rd lows, was itself a record-setting feat. Even so, as we’ve noted on several occasions, the recovery so far has been less than uniform for all the companies in the index.
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