Market Update – February 19, 2021 This Week in the Market

Dear Clients,

The market this week was a bit choppier than recent weeks, with people eyeing extremely high PE ratios among big tech companies. The SEC is continuing to investigate “meme” stock trading and halt trading in some stocks that have had too many mentions on social media groups. Economically, growth was far better than expected for the data that came out this week. Retail sales and manufacturing both beat estimates by a large margin. Unemployment was worse than expected at about 860,000 new claims, but the continued warning of widespread fraud makes that number less relevant.

Year end tax forms have started to be issued, so keep an eye out for those if you’re ready to file your taxes.

Have a great weekend!

Sincerely,

Ironwood Financial

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