FINANCIAL STOCK MARKET  WEEK "Rising inflation heightened investor concerns " February 19, 2024

The Markets (as of market close February 16, 2024)

Rising inflation heightened investor concerns that the Federal Reserve may not consider lowering interest rates during the first half of the year.  Among the benchmark indexes listed here, only the small caps of the Russell 2000 and the Global Dow were able to gain ground.  The Dow snapped a five-week winning streak, while the Nasdaq and the S&P 500 also finished the week lower.  With the stock market closed on Monday for President's Day, investors will have to wait a little longer to try to begin another rally.  Materials, utilities, financials, and industrials were better-performing sectors, while information technology and communication services lagged.  Ten-year Treasury yields rose for the second straight week. Crude oil prices climbed higher, while the national average for regular gasoline jumped to a two-month high.

Last week began with what turned out to be a choppy day of trading.  The Dow added 0.3% to hit a fresh record last Monday. The tech-heavy Nasdaq fell 0.3% and the S&P 500 dipped 0.1%.  The small caps of the Russell 2000 jumped 1.8%, while the Global Dow gained 0.4%.  Ten-year Treasury yields closed at 4.17%.  Oil prices rose $0.17 to $77.01 per barrel. The dollar was flat while gold prices fell 0.2%.

Stocks closed sharply lower last Tuesday following a hotter-than-expected Consumer Price Index (see below).  After reaching record highs, each of the benchmark indexes listed here declined.  The small caps of the Russell 2000 fell 4.0%, the tech-heavy Nasdaq lost 1.8%, the Dow and the S&P 500 declined 1.4%, while the Global Dow dropped 0.9%.  The latest inflation data probably prompted investors to reconsider their expectations of a rate cut by the Federal Reserve in March or May. Yields on 10-year Treasuries jumped 14.4 basis points to 4.31%.  Crude oil prices advanced, gaining $0.88 to $77.80 per barrel. The dollar rose 0.7%, while gold prices decreased 1.3%.

Last Wednesday saw stocks rebound from the prior day's selloff. The Russell 2000 gained 2.4%, followed by the Nasdaq, which added 1.3%.  The S&P 500 rose 1.0%, while the Dow and the Global Dow advanced 0.4%.  Ten-year Treasury yields declined 4.9 basis points to 4.26%.  Crude oil prices fell $1.37 to $76.60 per barrel, The dollar and gold prices slid lower.

Stocks continued to climb higher last Thursday led by the Russell 2000, which gained 2.5%. Investors assessed a slew of favorable corporate earnings centered around information technology, consumer spending, and energy.  The Dow and the Global Dow added 0.9%, while the S&P 500 rose 0.6% and the Nasdaq advanced 0.3%.  Ten-year Treasury yields dipped to 4.24%. Crude oil prices rose to $78.20 per barrel, up about $1.56 from the prior day's close.  The dollar fell 0.4%, while gold prices rose 0.6%.

Most of the benchmark indexes listed here lost ground last Friday. The Global Dow proved to be the exception, eking out a 0.1% gain.  The Russell 2000 fell 1.4%, the Nasdaq dropped 0.8%, the S&P 500 declined 0.5%, and the Dow slipped 0.4%. Ten-year Treasury yields added 5.5 basis points to close at 4.29%. Crude oil prices gained 1.5% to settle just shy of $80.00 per barrel. The dollar was flat, while gold prices rose 0.5%.

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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.