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Weekly Recap April 24th 2021
An article by • Published Apr 26, 2021

Weekly Recap: 24th 2021

For the week ending April 24th - the S&P 500 declined by 0.1%, the NASDAQ declined by 0.4% and the Dow Jones Industrial Average declined by 0.5%. The 10-year U.S. Treasury Yield Rate declined to 1.58% through Friday, April 23rd. ​ CDC & FDA Allow Use of J&J Vaccine Again The Food and Drug Administration (FDA) and Centers for Disease Control and Prevention (CDC) of U.S. paused use of Johnson & Johnson (ticker:
$JNJ
​) Janssen vaccine last week due to reports of formation of severe blood clot. FDA and CDC examined the data and determined that
use of Janssen vaccine can resume again in United States
​ on this Friday, April 23rd.   Netflix Subscription Growth Slows Down Netflix (ticker:
$NFLX
) announced first quarter 2021 earnings results this Tuesday, April 20th. In the
letter to shareholders
​, company's management noted that company added 4 million subscribers during the quarter but was unable to reach 6 million subscriptions additions that they had estimated. Management attributed the subscription growth slow down to 
lighter content slate (lesser new content on platform) due to COVID-19 production delays during first half of 2021
. Intel Raises Full Year Guidance Intel (ticker:
$INTC
) reported first quarter 2021 earnings results this Thursday, April 22nd. This was the first quarter for Pat Gelsinger, the company's new CEO who was brought in earlier this year to turn around the semiconductor giant. Pat's plan for the company - IDM (Intel Device Manufacturing) 2.0 strategy is showing early signs that its working. During the
earnings call
, management raised guidance for revenues, gross margin and free cash flow for the full year 2021.  Economic Updates: National Association of Realtors announced​ sales of existing-homes in the United States during March 2021 decreased by 3.7%from February 2021 to 6.01 million homes this Thursday, April 22nd. This is the second consecutive month-over-month decline in existing-home sales. U.S. Census Bureau announced sales of new-homes in the United States during March 2021 increased by 20.7% from February 2021 to 1.02 million homes this Friday, April 23rd. This is the highest recorded number of new-home sales since August 2006.​
U.S. Department of Labor released​ Initial Jobless Claims report for the week ending April 17th, 2021 on Thursday, April 22nd. 547,000 Americans filed for unemployment (lower than 617,000 claims expected by analysts) according to the report. It is lowest number of claims since the pandemic related unemployment that began in the week ending March 14th, 2020. 

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