FINANCIAL MARKET  WEEK:  (as of market close June 30, 2023)

Stocks moved higher last week as favorable inflation data added to investor hopes that the Federal Reserve would relax its monetary policy, despite Fed Chair Powell's statement that at least two more rate hikes are in the offing prior to the end of the year. The small caps of the Russell 2000 performed the best, followed by the S&P 500, the Global Dow, the Nasdaq, and the Dow. Bond prices declined as investors focused on stocks. The dollar inched higher, while gold prices fell for the third straight week. Crude oil prices closed higher following the prior week's plunge.

The last week of June picked up where the prior week left off, with the market in a bit of a tailspin. Last Monday saw the Nasdaq fall 1.2% and the S&P 500 slide 0.5% as communication services, consumer discretionary, and information technology dragged the indexes lower. The Dow and the Global Dow were flat, while the Russell 2000 eked out a 0.1% gain. Ten-year Treasury yields fell 2.0 basis points to settle at 3.71%. Crude oil prices rose about 0.6% to end the session at about $69.59 per barrel. The dollar dipped lower while gold prices inched higher.

• WALL STREET CLOSED HIGHER
• STOCK MARKET INDEXES
• LAST WEEK'S ECONOMIC NEWS
• EYE ON THE WEEK AHEAD