--- title: Weekly Investment Update July 19, 2021 description: Most equity indexes retreated from near all-time highs last week, as concerns over inflation and the Covid Delta variant seemed to weigh on the investor mindset. image: https://financial.oneascent.com/hubfs/weekly-investment-update-header.jpeg --- # Weekly Investment Update July 19, 2021 July 19, 2021 •[OneAscent](https://financial.oneascent.com/blog/author/oneascent) ** [Weekly Investment Updates](https://financial.oneascent.com/blog/tag/weekly-investment-updates) ![](https://financial.oneascent.com/hs-fs/hubfs/weekly-investment-update-header.jpeg?height=630&name=weekly-investment-update-header.jpeg) Most equity indexes retreated from near all-time highs last week, as concerns over inflation and the Covid Delta variant seemed to weigh on the investor mindset. While the S&P 500 (a proxy for large-cap US stocks) was down approximately one percent for the week, other parts of the market sold-off more significantly. Small-cap stocks, for example, lagged their larger peers, losing more than five percent for the week[[1]](https://financial.oneascent.com/blog/weekly-investment-update-july-19-2021#_ftn1). The energy sector, which roared back to life as the economy came back online as the vaccine rollout progressed, dropped nearly eight percent last week, as well. The sell-off is the result of news that a breakthrough in relations between Saudi Arabia and the United Arab Emirates improves the odds of OPEC increasing oil supply in the near future[[2]](https://financial.oneascent.com/blog/weekly-investment-update-july-19-2021#_ftn2). ![Line graph depicting Energy Select Sector SPDR ETF Total Return and S&P 500 Top 50 Total Return from January 2021 to July 2021](https://financial.oneascent.com/hubfs/Energy-Select-Sector-SPDR-ETF-Total-Return-S%26P-500-Total-Return-OneAscent-Financial-Weekly-Investment-Update-July-19-2021.png) Prices & Interest Rates | Representative Index | Current | Year-End 2020 | | --- | --- | --- | | Crude Oil (US WTI) | $71.17 | $48.52 | | Gold | $1,813 | $1,893 | | US Dollar | 92.71 | 89.94 | | 2 Year Treasury | 0.25% | 0.13% | | 10 Year Treasury | 1.31% | 0.93% | | 30 Year Treasury | 1.93% | 1.65% | | *Source: Morningstar, YCharts, and US Treasury as of July 17, 2021* | | | Asset Class Returns | Category | Representative Index | YTD 2021 | Full Year 2020 | | --- | --- | --- | --- | | Global Equity | MSCI All-Country World | 12.3% | 16.3% | | US Large Cap Equity  | S&P 500  | 16.1% | 18.4% | | US Large Cap Equity  | Dow Jones Industrial Average | 14.5% | 9.7% | | US Small Cap Equity  | Russell 2000 | 10.1% | 20.0% | | Foreign Developed Equity | MSCI EAFE | 8.8% | 7.8% | | Emerging Market Equity | MSCI Emerging Markets | 5.0% | 18.3% | | US Fixed Income | Bloomberg Barclays Municipal Bond | 1.8% | 5.2% | | US Fixed Income | Bloomberg Barclays US Agg Bond | -0.9% | 7.5% | | Global Fixed Income | Bloomberg Barclays Global Agg. Bond | -2.6% | 9.2% | | *Source: YCharts as of July 17, 2021* | | | |   [[1]](https://financial.oneascent.com/blog/weekly-investment-update-july-19-2021#_ftnref1) Source: YCharts [[2]](https://financial.oneascent.com/blog/weekly-investment-update-july-19-2021#_ftnref2) Source: [OPEC+ Calls Meeting for Sunday After Progress Toward Deal - Bloomberg](https://www.bloomberg.com/news/articles/2021-07-17/opec-discusses-meeting-on-sunday-after-progress-toward-deal) [**Download PDF Version** ](https://financial.oneascent.com/hubfs/2021.07.19%20OneAscent%20Weekly%20Investment%20Update.pdf) Past performance may not be representative of future results.  All investments are subject to loss.  Forecasts regarding the market or economy are subject to a wide range of possible outcomes.  The views presented in this market update may prove to be inaccurate for a variety of factors.  These views are as of the date listed above and are subject to change based on changes in fundamental economic or market-related data.  Please contact your Financial Advisor in order to complete an updated risk assessment to ensure that your investment allocation is appropriate. 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