Weekly Market Update | May 3, 2021

The Week on Wall Street

Stocks meandered around a flatline in a busy week of corporate earnings, ending the trading week slightly lower.

The Dow Jones Industrial Average slid 0.50%, while the Standard & Poor’s 500 was flat (+0.02%). The Nasdaq Composite index surrendered 0.39%. The MSCI EAFE index, which tracks developed overseas stock markets, rose 0.18%.

Seeking Direction

Though the S&P 500 and Nasdaq established new record highs at the start of the week, stocks struggled to find traction as the week wore on.4

Investor sentiment was dampened by rising COVID-19 infections in India and Japan, along with mounting inflation worries. Stocks finally caught some lift from strong quarterly reports issued by two big technology companies and an upbeat first-quarter Gross Domestic Product growth number, sending the S&P 500 to a fresh record high.5

Once again, though, stocks failed to follow through, as the market retreated in the final day of trading to close near where it began the week.

Earnings Top Expectations

Last week was the biggest week of the first quarter’s earnings season with a third of S&P 500 companies reporting, including six of the largest companies.6

With expectations high, businesses generally topped Wall Street analysts’ estimates; Big Tech companies posted especially noteworthy earnings. Coming into last Friday, with 40% of S&P 500 index companies reporting, earnings-per-share growth (EPS) is now estimated to be 29.3%, well ahead of the 12.2% EPS growth rate that analysts had expected at the start of the year.

Key Economic Data

Tuesday:  Factory Orders.

Wednesday: ADP (Automated Data Processing) Employment Report. ISM (Institute for Supply Management) Services Index.

Thursday: Jobless Claims.

Friday: Employment Situation Report.

Source: Econoday

Companies Reporting Earnings

Tuesday: CVS Health Corporation (CVS), Pfizer, Inc. (PFE), Dominion Energy (D), Prudential Financial (PRU).

Wednesday: Paypal Holdings (PYPL), General Motors (GM), Twilio, Inc. (TWLO), Etsy, Inc. (ETSY), Cognizant Technologies (CTSH).

Thursday: Square, Inc. (SQ), Roku, Inc. (ROKU), Albemarle Corporation (ALB), Regeneron Pharmaceuticals, Inc. (REGN), Booking Holdings (BKNG), Expedia Group (EXPE), Kellogg Company (K).

Friday: Berkshire Hathaway (BRK.A), EOG Resources (EOG), Cigna Corporation (CI), Draftkings, Inc. (DKNG).


Quote of the Week

“The secret of happiness isn’t found in seeking more, but in developing the capacity to enjoy less.”

– Socrates

Sources: The Wall Street Journal, April 30, 2021; Treasury.gov, April 30, 2021

Weekly performance for the Dow Jones Industrial Average, Standard & Poor’s 500 index, and NASDAQ Composite is measured from the close of trading Friday, April 23, to Friday, April 29 close. Weekly performance for the MSCI-EAFE is measured from Friday April 23, open to the Thursday April 29, close. Weekly and year-to-date 10-year Treasury note yields are expressed in basis points.

A Beginner’s Guide to Juicing

Juicing is an amazing way to get some extra fruits and veggies into your diet, especially on those busy days when you can’t seem to find time to make a nutritious meal. Plus, it’s easy to get started and start reaping the many benefits.

First, decide what kind of juicer you want. The two most common types of juicers are masticating and centrifugal juicers. Masticating juicers “chew” the food and move slower. It takes more time to prepare the produce for masticating juicers because they can only juice small pieces, but you retain more of the nutrients. Centrifugal juicers are a little more affordable and juice with a spinning disk. You don’t have to prep the produce as much, but the juice also doesn’t retain as many nutrients.

Next, you need to decide what to juice. You’ll learn which fruits and veggies have the most juice and what choices combine well with others, but to get you started, here are some simple recipes:

Green Juice

  • Celery
  • Cucumber
  • Apple/Pineapple/Orange/Lemon
  • Spinach/Kale

Purple Juice

  • Beets (you can juice the green tops as well)
  • Kale
  • Carrots

You can also add a little ginger, turmeric, or even garlic to give your juice extra flavor and kick.

Tip adapted from Live Simply Natural

Fluffy Banana Cinnamon Pancakes   

Serves: 4


  • 2 bananas, mashed
  • 1 ½ cups all-purpose flour
  • 2 teaspoon ground cinnamon
  • 3 tablespoon sugar
  • 2 tablespoon baking powder
  • ¼ teaspoon salt
  • 1 cup milk
  • 1 egg
  • 3 tablespoon oil
  • 1 teaspoon vanilla extract


  • Banana slices, whipped cream and cinnamon for topping


  1. In a large bowl, combine the mashed bananas, flour, cinnamon, sugar, baking powder, salt, milk, egg, 2 tablespoons oil and vanilla extract. Set aside.
  2. Heat 1 tablespoon of oil in a skillet over medium heat. Add about a half cup of pancake batter per pancake to the skillet.
  3. Cook until bubbles form on top, then flip. Cook for another minute or two, until golden brown.
  4. To serve, top with bananas, whipped cream and cinnamon. Enjoy!

Recipe adapted from www.thekitchn.com

Play Games

It’s been proven that the brain can’t learn unless you are challenging it with random tasks. Showing up to the range and hitting your driver for 20 minutes won’t do much to improve your golf game. This is exactly why practice games are so effective. They simulate real pressure that you will feel on the course and encourage you to practice like you play.

Tip adapted from golf.com

Errors to Avoid When Filing Your Extended Tax Return

If you filed an extension on your tax return, it’s important to avoid some common errors to ensure your return is processed as quickly as possible. Avoiding these mistakes will help you ensure that your tax return is complete and accurate:

Missing or Inaccurate Social Security Numbers: Make sure your return has your correct SSN. It should match what is printed on your Social Security card.

Misspelled Names: This seems like a simple issue to look for, but mistakes happen. Or, if you go by another name, make sure you use the name that is printed on your Social Security card.

Filing Status: Claiming the wrong filing status can deny your return. Make sure to choose the right option (electronic filing software can help prevent this). The Interactive Tax Assistant Tool can also help determine your filing status and any relevant credits you should (or shouldn’t) be claiming.

Math Errors: Even simple addition and subtraction mistakes can delay your return. Consider using an electronic filing software that does math like this automatically to avoid mistakes.

Incorrect Bank Account Information: If you opt to receive your refund via direct deposit, make sure you list the correct bank account information. Listing an incorrect account number can delay your refund even further.

Unsigned Forms: Lastly, you should double-check that all sections of your forms are signed. Missing signatures can delay your return.

* This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax professional.

Tip adapted from IRS.gov  



Photo of the Week

Sunset in Cozumel, Mexico

Financial planning and investment advisory services offered through Cleveland Wealth, LLC, a Registered Investment Advisor. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified wealth advisor and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.