FINANCIAL STOCK MARKET  WEEK "Two-week bear run ends":  November 3, 2023

Wall Street ended a two-week bear run as stocks enjoyed their best week of the year. Each of the benchmark indexes listed here posted solid gains, while bond yields declined, dragged lower by escalating bond prices. Investors may have seen slowing job growth (see below) as more reason for the Federal Reserve to maintain, if not lower, interest rates in the near future. The Fed kept interest rates at their current levels following last week's meeting (see below). Third-quarter corporate earnings have been mixed, with about 49% of the companies of the S&P 500 reporting earnings that are 7.7% above estimates, which is below the five-year average of 8.5% but above the 10-year average of 6.6%. Crude oil prices fell for the second straight week as supply concerns driven by tensions in the Middle East waned. The dollar declined to a six-week low, while gold prices advanced.

Stocks rallied last Monday as investors awaited the outcome of Wednesday's Federal Reserve meeting. The S&P 500 and the Nasdaq, both in correction territory, gained 1.2%. The Dow rose 1.6%, while the Global Dow and the Russell 2000 advanced 0.7% and 0.6%, respectively. Crude oil prices dropped 3.6% to $82.47, as Israel's measured approach to its war in Gaza eased concerns of that other countries, particularly oil-producing nations, would get involved and use oil as a tool of retaliation. Ten-year Treasury yields inched up 3.0 basis points to 4.87%. The dollar fell 0.4%, while gold prices rose 0.4%.

Wall Street continued to trend higher on Tuesday to salvage the final day of October. Investors continued to look ahead to the Fed's interest rate decision on Wednesday and Apple's earnings report on Thursday. The Russell 2000 led the benchmark indexes, gaining 0.9%, followed by the S&P 500 (0.7%), the Nasdaq (0.5%), the Dow (0.4%), and the Global Dow (-0.1%). Ten-year Treasury yields ended the session unchanged from the prior day's value. Crude oil prices fell 1.3% to $81.28 per barrel. The dollar rose 0.5%, while gold prices slipped below $2,000.00 per ounce after declining 0.6%.

• STOCK MARKET INDEXES

  Wall Street continued to trend higher on Tuesday to salvage the final day of October. Investors continued to look ahead to the Fed's interest rate decision on Wednesday and Apple's earnings report on Thursday. The Russell 2000 led the benchmark indexes, gaining 0.9%, followed by the S&P 500 (0.7%), the Nasdaq (0.5%), the Dow (0.4%), and the Global Dow (-0.1%). Ten-year Treasury yields ended the session unchanged from the prior day's value. Crude oil prices fell 1.3% to $81.28 per barrel. The dollar rose 0.5%, while gold prices slipped below $2,000.00 per ounce after declining 0.6%.

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• 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.