FINANCIAL STOCK MARKET  WEEK "December saw stocks close higher" December 11, 2023

The Markets (as of market close December 8, 2023)

The first week of December saw stocks close higher.  Megacaps fueled much of the increase.  A better-than-expected jobs report (see below) encouraged investor sentiment about a soft landing for the economy, while cooling expectations of an early cut in interest rates by the Federal Reserve.  Each of the benchmark indexes listed here ended last week higher, with the exception of the Global Dow. Several market sectors advanced, led by consumer discretionary, real estate, industrials, communication services, and information technology.  Energy, consumer staples, and materials lagged. Ten-year Treasury yields rode a wave of ebbs and flows during the week, ultimately closing about where they began. A late-week rally wasn't enough to keep crude oil prices from falling for the sixth straight week.  The dollar edged higher, while gold prices declined.

Wall Street began last week on a bit of a sour note.  Megacaps retreated, dragging the Nasdaq down 0.8%. The S&P 500 fell 0.5%, the Global Dow lost 0.2%, and the Dow slipped 0.1%.  The small caps of the Russell 2000 gained 1.0%. Communication services, information technology, and energy were the worst performing sectors. Ten-year Treasury yields rose 6.2 basis points to 4.28% as bond prices dipped.  Crude oil prices fell nearly 1.0% to $73.34 per barrel. The dollar advanced, while gold prices declined.

Tech stocks helped boost the Nasdaq last Tuesday, while long-term bonds resumed their rally. Of the benchmark indexes listed here, only the Nasdaq closed higher, gaining 0.3%.  The Russell 2000 (-1.4%), the Global Dow (-0.3%), the Dow (-0.2%), and the S&P 500 (-0.1%) ended the session lower.  Ten-year Treasury yields shed 11.7 basis points, closing at 4.16%. Crude oil prices continued to tumble after falling 0.9% to close at $72.37 per barrel. The dollar gained 0.3%, while gold prices fell 0.2%.

Stocks tumbled lower for the third straight session last Wednesday.  The Nasdaq (-0.6%) and the S&P 500 (-0.4%) declined the furthest among the benchmark indexes listed here, followed by the Dow and the Russell 2000, which dipped 0.2%.  The Global Dow edged up 0.2%. Crude oil prices declined to the lowest levels since June after dropping 4.2% to $69.26 per barrel. Yields on 10-year Treasuries lost 5.0 basis points to close at 4.12%.  The dollar ticked up for the second straight session, while gold prices advanced for the first time after falling three straight days.

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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.