Receive Weekly Market Updates via Email


Weekly Market Update for November 24, 2021

by Jim Ulland

We expected the Thanksgiving week to be quiet because many in the industry take the week off.  Four events or news stories intervened causing a lot of market volatility. First, interest rates, as represented by the 10 Yr. Treasury, went up sharply Monday and Tuesday in reaction to inflation before stabilizing Wednesday.  Second, crude oil pushed higher after the President said oil would be released from the Strategic Petroleum Reserve. Crude was up 3.4% through Wednesday. This was a little ironic since the goal for releasing oil from the reserve was to have the opposite market response.  The third major news item of this holiday-shortened week came from unemployment filings.  Weekly unemployment filings were the lowest since 1969 implying that exceedingly few employers are laying off workers. This reflects both the strength of the economy, holiday hiring, and the shortage of workers. Finally, Covid cases kicked up even among the vaccinated.  Some countries like Austria instituted a rather severe lockdown.

If you are not working Friday, get your booster shot.  It will immediately restore your protection to near 100%.  Our office will be very lightly staffed on Friday when the market is only open until noon.  While the market is open, we will respond to any urgent needs that cannot wait until Monday.

Through Wednesday, the S&P 500 was up +0.07%, the NASDAQ -1.32%. Monday the S&P 500 was down -0.32%, Tuesday +0.17%, Wednesday +0.23%.

Next week also is expected to be quiet.  We’ll see.  The one news item of market moving potential will be the Friday jobs report which gives the net new jobs created in November.  This will be one indicator of the country’s economic health.

Warmest wishes during this traditional week of family gatherings.


The information contained in this commentary is not investment advice for any person. It is presented only for informational purposes to assist in explaining factors that may have had an impact in the past or may have an impact in the future on client portfolios or composites. All expressions of opinion reflect the judgment of the firm on this date and are subject to change. Included information has been obtained from sources considered reliable, but we do not guarantee that the foregoing materials are accurate or complete. Investors should contact Ulland Investment Advisors for individualized information prior to deciding to participate in any portfolio or making any investment decision. Ulland Investment Advisors does not provide tax advice. All investors are strongly urged to consult with their tax advisors regarding any potential investment.

Performance quoted is past performance. Past performance is not indicative of future performance. There is always a possibility of loss. Current performance may be lower or higher than performance shown. Differences in performance versus the indices/funds may be attributable, in part, to differences in the asset make-up of the strategy vs. the indices/funds. Performance calculations are based on the reinvestment of dividends and gains unless these amounts were paid out to the client. Performance is subject to revision. See for important strategy disclosures.

This does not constitute a recommendation of any investment strategy or product for a particular investor. Investing involves risk; principal loss is possible. Investors should consider the investment objectives, risk, charges, and expenses of the strategy carefully before investing. This and other important information can be obtained by contacting Ulland Investment Advisors


Ulland Investment Advisors

4550 IDS Center · Eighty South Eighth Street · Minneapolis MN 55402 · Telephone: 612-312-1400 · Facsimile: 612-204-3464