FINANCIAL STOCK MARKET  WEEK "The market enjoyed a favorable week ": November 17, 2023

The market enjoyed a favorable week as each of the benchmark indexes listed here gained ground. Inflation data showed consumer prices moderated in October, while the Federal government avoided a shutdown. Over the last three weeks, the S&P 500, the Nasdaq, and the Dow had their best runs since June 2020, April 2020, and November 2022, respectively. Crude oil prices lost ground for the fourth straight week despite a rally last Friday. The dollar fell to a two-month low. Gold prices ended the week with solid gains.

Stocks opened last Monday with mixed results ahead of Tuesday's Consumer Price Index report. The Global Dow (0.5%) and the Dow (0.2%) ticked higher, while the small caps of the Russell 2000 were unchanged. The Nasdaq fell 0.2% and the S&P 500 dipped 0.1%. Investors were pensive as they awaited the release of important inflation data over the next few days. Signs that inflation may be cooling could spur a rally in stocks, while a jump in consumer prices could move traders away from the market. Ten-year Treasury yields ticked slightly higher, closing at 4.63%.  Crude oil prices rose 1.8% to $78.55 per barrel.  The dollar dipped lower, while gold prices rose more than half a percent.

The stock market rallied last Tuesday after the latest inflation data showed price pressures cooled over the last 12 months. The Russell 2000 vaulted 5.4% as small-cap stocks surged, pushing that index into positive territory for the year. The Nasdaq gained 2.4%, the Global Dow added 2.0%, the S&P 500 advanced 1.9%, and the Dow increased 1.4%. The yield on 10-year Treasuries declined 19.1 basis points, falling to 4.44%.  Crude oil prices were flat, closing at $78.27 per barrel. The dollar lost 1.5%, while gold prices rose 0.9%.

Last Wednesday produced another day of gains for Wall Street. Both the Producer Price Index and retail sales came in a little softer than expected (see below), which supported the belief that the Fed is done raising interest rates.  The Global Dow (0.8%) led the benchmark indexes listed here, followed by the Dow (0.5%), while the Russell 2000 and the S&P 500 rose 0.2%. The Nasdaq edged up 0.1%. Bond prices slid, driving 10-year Treasury yields up 9.4 basis points to 4.53%. Crude oil prices dropped 2.2% to $76.55 per barrel.  The dollar gained 0.3%, while gold prices dipped 0.2%.

• STOCK MARKET INDEXES
• LAST WEEK'S ECONOMIC NEWS
• EYE ON THE WEEK AHEAD

Wendy Nelson, CEO of Wind River Wealth Advisors, aims to provide beneficial investment management, retirement planning, financial planning, asset management, and portfolio management to protect your money with knowledgeable strategies and plans by utilizing a personal independent financial advisor.