FINANCIAL STOCK MARKET  WEEK "The markets continued to flourish last week" December 4, 2023

The Markets (as of market close December 1, 2023)

The markets continued to flourish last week. Investors were not deterred by a warning from Federal Reserve Chair Jerome Powell that interest rate hikes may not be over, and it is premature to speculate when rate decreases will begin. The S&P 500 and the Dow reached new 2023 highs, while the Nasdaq posted solid returns as all three indexes extended a run of five straight weekly gains. Despite additional output cuts by OPEC+, crude oil prices continued to lag as demand remained soft. Ten-year Treasury yields closed down nearly 80.0 basis points from a peak in October.  Yields fell over 50.0 basis points in November, marking the largest monthly decline since August 2019.  The dollar weakened, while gold prices finished the week at a record high.

Stocks edged lower last Monday as investors may have spent more time focused on Cyber Monday deals rather than stock market bargains. Each of the benchmark indexes listed here slipped marginally lower, with the Russell 2000 (-0.3%) falling the furthest, followed by the Global Dow and the S&P 500 (-0.2%), while the Dow (-0.2%) and the Nasdaq (-0.1%) also ticked lower. Long-term bond prices rose, pulling yields on 10-year Treasuries down 8.3 basis points to 4.38%. Crude oil prices dipped 0.7%, settling at around $75.00 per barrel.  The dollar declined 0.2%, while gold prices rose 0.6%.

Last Tuesday saw stocks recoup losses from the prior day, while bond yields continued to decline. Among the benchmark indexes listed here, only the Russell 2000 closed in the red, falling 0.5%. The Global Dow advanced 0.4%, the Nasdaq rose 0.3%, the Dow climbed 0.2%, and the S&P 500 inched up 0.1%.  Ten-year Treasury yields settled at 4.33% after falling 5.3 basis points. Crude oil prices rose 2.0% to $76.37 per barrel.  The dollar fell 0.4%, while gold prices gained 1.5%, advancing for the second straight day.

Stocks closed mostly lower last Wednesday. Among the benchmark indexes listed here, only the Russell 2000 (0.6%) advanced, with the Dow and the Global Dow unchanged.  The Nasdaq and the S&P 500 dipped 0.1%. Stocks began the day on an upswing as investor hopes for a strengthening economy got a boost by solid third-quarter gross domestic product data (see below). By the close of trading, most of the morning's gains were lost. Bonds continued to rally as yields on 10-year Treasuries lost 6.5 basis points to settle at 4.27%.  Crude oil prices advanced for the second straight day, climbing 1.7% to $77.70 per barrel. The dollar and gold prices advanced.

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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.