Weekly Market Commentary
Cool Jobs
A steady Federal Reserve and a moderating labor market helped stocks rise for a second consecutive week. For the week, the S&P 500 Index was +0.6%, the Dow was +1.1%, and the NASDAQ was +1.0%. Within the S&P 500 Index, the Utility, Real Estate, and Technology sectors led the advance, while the Energy, Financials, and Materials sectors lagged. The 10-year U.S. Treasury note yield decreased to 4.503% at Friday’s close versus 4.668% the previous week.
Fundamental Victory
Stocks snapped their three-week losing streak on several strong earnings reports. For the week, the S&P 500 Index was +2.7%, the Dow was +0.7%, and the NASDAQ was +4.0%. Within the S&P 500 Index, the Technology, Consumer Discretionary, and Industrial sectors led the advance, while the Materials, Health Care, and Communication Services sectors trailed. The 10-year U.S. Treasury note yield increased to 4.668% at Friday’s close versus 4.614% the previous week. Equity fundamentals were victorious
April Showers
Stocks continued their decline for the third consecutive week. For the week, the S&P 500 Index was -3.0%, the Dow was flat, and the NASDAQ was -5.4%. Within the S&P 500 Index, the Utility, Consumer Staples, and Financial sectors had gains for the week, while the Technology, Consumer Discretionary, and Real Estate sectors had the largest declines. The 10-year U.S. Treasury note yield increased to 4.614% at Friday’s close versus 4.521% the previous week. The
Pricey Persistence
Stocks declined for a second consecutive week on concerns inflation is not receding. For the week, the S&P 500 Index was -1.5%, the Dow was -2.4%, and the NASDAQ was -0.6%. All eleven S&P 500 sectors declined with the Technology, Consumer Discretionary, and Consumer Staples sectors declining the least, and the Financials, Materials, and Health Care sectors declining the most. The 10-year U.S. Treasury note yield increased to 4.521% at Friday’s close versus 4.395% the
Eclipsed
Stocks were eclipsed by strong economic data to start the second quarter. For the week, the S&P 500 Index was -0.9%, the Dow was -2.2%, and the NASDAQ was -0.8%. The best performing sectors in the S&P 500 Index were the Energy, Communication Services, and Materials sectors, while the Health Care, Real Estate, and Consumer Discretionary sectors lagged. The 10-year U.S. Treasury note yield increased to 4.395% at Friday’s close versus 4.206% the previous week.
Shiny Quarter
Stocks closed out a strong first quarter of the year with moderate gains during a holiday shortened week. For the week, the S&P 500 Index was +0.4%, the Dow was +0.8%, and the NASDAQ was -0.3%. The best performing sectors in the S&P 500 Index were the Utility, Real Estate, and Materials sectors, while the Consumer Discretionary, Technology, and Communication Services sectors lagged. The 10-year U.S. Treasury note yield decreased to 4.206% at Thursday’s close