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Market Update: May 23, 2023 Despite Stall, Debt Deal Optimism Cheers Markets, Plus SFG News and Events
Stocks rallied last week, propelled by growing optimism over reaching a deal on raising the debt ceiling and avoiding a technical debt default by the U.S. The Dow Jones Industrial Average edged 0.38% higher, while the Standard & Poor’s 500 gained 1.65%. The Nasdaq Composite index advanced 3.04% for the week. The MSCI EAFE index,…
Market Update: May 16, 2023 Attention Turns to the Debt Ceiling, Plus SFG News and Events
Stocks were mixed last week as good inflation news was offset by mounting debt ceiling concerns and rekindled regional banking fears. The Dow Jones Industrial Average lost 1.11%, while the Standard & Poor’s 500 slipped 0.29%. The Nasdaq Composite index rose 0.40% for the week. The MSCI EAFE index, which tracks developed overseas stock markets,…
Market Update: May 9, 2023 Friday Rally Trims Losses; CPI Report Next Week, Plus SFG News and Events
A Friday rebound, triggered by a big tech company’s earnings beat and a strong jobs report, shaved much of the week’s accumulated losses. The Dow Jones Industrial Average fell 1.24%, while the Standard & Poor’s 500 lost 0.80%. The Nasdaq Composite Index was flat (+0.07%) for the week. The MSCI EAFE index, which tracks developed…
Market Update: May 2, 2023 Stocks Rally As Attention Shifts to Fed’s May Meeting, Plus SFG News and Events
Strong earnings from several mega-cap technology companies offset renewed regional banking jitters and weak economic data, leaving stocks higher for the week. The Dow Jones Industrial Average gained 0.86%, while the Standard & Poor’s 500 added 0.87%. The Nasdaq Composite index rose 1.28% for the week. The MSCI EAFE index, which tracks developed overseas stock…
Market Update: April 25, 2023 Stocks Show Small Losses After Mixed Week, Plus SFG News and Events
Stocks remained resilient last week amid mixed earnings reports, hawkish Fed-speak, and lingering recession fears, closing out the five trading days with small losses. The Dow Jones Industrial Average slipped 0.23%, while the Standard & Poor’s 500 lost 0.10%. The Nasdaq Composite index fell 0.42% for the week. The MSCI EAFE index, which tracks developed…
Market Update: April 18, 2023 Lower Inflation Lifts Spirits in Uneven Week, Plus SFG News and Events
The combination of an improving inflation outlook resulted in a week of uneven, albeit positive, performance, in which cyclical and financial stocks rallied while technology, real estate, and utilities lagged. The Dow Jones Industrial Average gained 1.20%, while the Standard & Poor’s 500 rose 0.79%. The Nasdaq Composite index increased 0.29% for the week. The…
Market Update: April 11, 2023 Hiring Cools; Recession Fears Rise, Plus SFG News and Events
Stocks ended a shortened week of trading mixed amid revived recession fears on Wall Street triggered by weak economic data. The Dow Jones Industrial Average gained 0.63%, while the Standard & Poor’s 500 slipped 0.10%. The Nasdaq Composite index lost 1.10% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, advanced…
Market Update: April 4, 2023 Banking Crisis Fears Dim; Markets Rally, Plus SFG News and Events
Stocks rallied last week on receding fears of a widening banking crisis, led by resurging investor interest in technology and communication services names. The Dow Jones Industrial Average gained 3.22%, while the Standard & Poor’s 500 added 3.48%. The Nasdaq Composite index rose 3.37% for the week. The MSCI EAFE index, which tracks developed overseas…
Market Update: March 28, 2023 Mixed Message Provokes Volatility, Plus SFG News and Events
Modest gains in major market indices masked sharp volatility amid the uncertainty arising from mixed messages emanating from public officials and revived banking fears. The Dow Jones Industrial Average gained 1.18%, while the Standard & Poor’s 500 added 1.39%. The Nasdaq Composite index rose 1.66% for the week. The MSCI EAFE index, which tracks developed…
Market Update: March 7, 2023 Fed’s Reassurance Boosts Stocks, Plus SFG News and Events
A late-week surge, triggered by reassuring Fed-speak, propelled stocks higher last week. The Dow Jones Industrial Average gained 1.75%, while the Standard & Poor’s 500 advanced 1.90%. The Nasdaq Composite index picked up 2.58% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, added 0.81%.1,2,3 Stocks Resume Climb After rebounding to…
Market Update: February 28, 2023 FOMC Says Inflation is Still Too High, Plus SFG News and Events
Concerns over a firmer monetary policy were heightened by fresh economic data, touching off a climb in bond yields and a slide in stock prices last week. The Dow Jones Industrial Average skidded 2.99%, while the Standard & Poor’s 500 dipped 2.67%. The Nasdaq Composite index sagged 3.33% for the week. The MSCI EAFE index,…
Market Update: February 21, 2023 Mixed Results As Interest Rate Concerns Grow, Plus SFG News and Events
Growing concerns about further interest rate hikes, prompted by fresh economic data, reversed early-week gains and left stocks mixed for the week. The Dow Jones Industrial Average slipped 0.13%, while the Standard & Poor’s 500 fell 0.28%. The Nasdaq Composite index advanced 0.59% for the week. The MSCI EAFE index, which tracks developed overseas stock…