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Weekly market recap
All three major stock indexes finished the week lower. The $Dow Jones Industrial Average (.DJI.US)$ dipped 1.1% this week, while the $S&P 500 Index (.SPX.US)$ shed nearly 0.6% and the $Nasdaq Composite Index (.IXIC.US)$ moved 0.7% lower.
“With Fed tapering coming while delta variant keeps spreading, the transition away from liquidity/policy regime to more mid-cycle markets means we may experience a bumpier ride ahead,” Barclays equity strategists said in a note. “Market narrative may thus turn more cautious, as concerns about peaking growth rates, delta variant and policy mistake may prove headwinds, at a time when seasonality and technicals are unfavorable.”
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