Weekly Market Snapshot – May 17th, 2021
Created by: Sam Tenney
- Unfilled job openings have surged over the past 6 months, rising to the highest recorded level on record with 8.1 million current job openings. Unemployment however remains high, at around a 6.1% current unemployment rate.¹
- With more than 90% of S&P 500 market cap having reported earnings, JP Morgan estimates 1Q21 operating earnings per share (EPS) coming in at $47.29, representing a year-over-year growth of 143%.²
- Consumers have discharged more credit card debt in 1Q21 then any other period on record, drawing down total credit card balances by $49 Billion in the quarter. This highlights the increased economic uncertainty consumers currently face, making them less likely to take on high interest-bearing debt.³
SOURCES
1. https://www.ft.com/content/da9dd7e5-50f2-43ef-aae4-e9eb19f4fc29
2. https://am.jpmorgan.com/us/en/asset-management/adv/insights/market-insights/market-updates/weekly-market-recap/
3. https://insight.equifax.com/advantage-to-lockdowns-paying-down-credit-card-debt/
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