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Quarterly Update - Q2 2021 Thumbnail

Quarterly Update - Q2 2021


We hope this note finds you well and that you are enjoying your summer.  Linked below is our quarterly market update for your review.

  • Earnings Season- Second quarter earnings announcements kick off on July 13 with the major banks, including JP Morgan and Goldman Sachs.  We expect a solid quarter in earnings but the markets might be expecting bigger beats in revenue and earnings than what may be delivered.  
  • Perspective:  As of the June 30, 2021 close, the S&P 500 Index was 34% higher in price than year-end 2020 and 28% higher than the pre-crash highs of February 2020 when the markets went off the cliff and experienced drawdowns of near 50%.  To put this in perspective, if today we were to experience a market correction of over 15%, the S&P 500 would still be 10% higher than the February 2020 pre-crash highs.
  • Impressive Run: For the S&P 500 Index, last Friday's close was its seventh highest in a row, making it the longest streak since 1997--that is significant, and the first half of the year price move of 14.4% was the second best since 1998.

Please do not hesitate to reach out to us on any questions or to schedule an in office or WebEx virtual meeting to review your portfolios and to update or get started on your financial plan.

John J Klobusicky, CFA, CAIA,

Managing Partner

FMA Advisory Inc.

Cell: 717-856-2238



Quarterly Market Commentary - 2Q2021

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