Q1 2021 Quarterly Market Commentary

New Release

One-year after the commencement of the pandemic, the U.S. continues to make significant progress in battling the virus. Vaccination efforts are in full swing, with the U.S. administering nearly 2.5 million vaccine doses per day in the second half of March.1 Daily new confirmed cases are down from their early 2021 spike. The data is encouraging and signals the pandemic’s loosening grip.

Positive progress on vaccinations and new cases is allowing public officials to ease restrictions. States are removing capacity restrictions on restaurants and bars and allowing public venues to reopen. However, restriction easing comes as virus variants are emerging and as of this writing new daily confirmed cases are ticking higher. The risk remains that new cases counts increase in the months ahead.

Important Disclosures: Wells Fargo Advisors Financial Network did not assist in the preparation of this report, and its accuracy and completeness are not guaranteed. The opinions expressed in this report are those of the author(s) and are not necessarily those of Wells Fargo Advisors Financial Network. The material has been prepared or is distributed solely for information purposes and is not a solicitation or an offer to buy any security or instrument or to participate in any trading strategy. Additional information is available upon request. Past performance is no guarantee of future results. Wells Fargo Advisors Financial Network is not a tax or legal advisor. Be sure to consult with your own tax and legal advisors before taking any action that may have tax or legal consequences. CAR-0421-00441

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