FINANCIAL STOCK MARKET  WEEK "The markets closed out last week and the year with gains" January 1, 2024

The Markets (as of market close December 29, 2023)

The markets closed out last week and the year with gains, despite losing steam at the end of the week. Each of the benchmark indexes listed here ended last week higher, with the exception of the Russell 2000, which dipped 0.3%.  The Dow and the S&P 500 logged their ninth straight week of gains, with the S&P 500 enjoying its longest weekly winning streak since 2004. Health care and utilities led the market sectors, along with industrials, financials, and real estate.  Energy and communication services ended the week in the red. Bond values advanced, pulling yields lower.  Crude oil prices closed the week and the year lower.  The dollar edged down, while gold prices eked out a gain.

Wall Street closed higher to begin the last week of 2023. Each of the benchmark indexes listed here closed higher, with the S&P 500 reaching a new 52-week high (but short of an all-time high). The Russell 2000 continued to vault higher as the year drew to a close, gaining 1.2% to lead the benchmark indexes listed here.  The Nasdaq gained 0.5%, while the Dow, the Global Dow, and the S&P 500 each added 0.4%. Bond prices rose, pulling yields lower, with 10-year Treasury yields dipping 1.5 basis points to close at 3.88%.  Crude oil prices rose 2.3% to $75.23 per barrel, likely influenced by risks of further shipping disruptions in the Red Sea.  The dollar dipped 0.2%, while gold prices rose 0.5% as they neared $2,100.00 per ounce.

The S&P 500 moved closer to reaching an all-time high after eking out a 0.1% gain as stocks continued to push higher last Wednesday. The Global Dow gained 0.7% to lead the benchmark indexes listed here, followed by the Russell 2000 and the Dow, which both added 0.3%.  The Nasdaq rose 0.2%.  Yields on 10-year Treasuries fell 9.7 basis points to close at 3.78%. Crude oil prices lost 2.2%, slipping to $73.91 per barrel.  The dollar lost 0.5% against a basket of currencies, while gold prices gained 1.0%.

Stocks were fairly muted last Thursday, although the Dow (0.1%) gained enough to hit a new record high, while the S&P 500 ended the day flat, percentage points off from closing the year with a new record high. The Nasdaq and the Global Dow ended the session where they began, while the Russell 2000 slipped 0.4%. Bond prices retreated, sending yields on 10-year Treasuries up 6.1 basis points to 3.85%. Crude oil prices dropped for the second straight session, closing at about $71.91 per barrel after falling 3.0%. The dollar gained 0.2%, while gold prices fell 0.8%.

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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.