Daily Market Commentary

April 29, 2021

Bonds & Stocks
U.S. consumer spending climbed 10.7% in first quarter.

Economy
GDP expanded at a 6.4% annualized rate following a softer 4.3% pace in the fourth quarter, the Commerce Department's preliminary estimate showed Thursday. Personal consumption, the biggest part of the economy, surged an annualized 10.7%, the second-fastest since the 1960s.

World
The global chip shortage is going from bad to worse with automakers on three continents joining tech giants Apple Inc. and Samsung Electronics Co. in flagging production cuts and lost revenue from the crisis.

The information represented herein was obtained from various sources, which we believe to be reliable. Neither the information presented nor opinions expressed constitutes an offer to buy or sell any security. And it is not intended to guide the investor on which securities to buy, or when to buy or sell.

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