FINANCIAL STOCK MARKET  WEEK "Stocks advanced last week, driven higher by tech shares" February 26, 2024

The Markets (as of market close February 23, 2024)

Stocks advanced last week, driven higher by tech shares that were bolstered by favorable corporate earnings reports.  The Dow, the Nasdaq, and the S&P 500 posted weekly gains for the 16th time out of the last 18 trading weeks.  Among the benchmark indexes listed here, only the small caps of the Russell 2000 closed the week in the red.  Each of the 11 market sectors ended the week higher, led by consumer staples, materials, and health care.  Bond prices ticked higher, pulling yields lower, with 10-year Treasuries slipping 3.0 basis points.  The dollar slipped lower, while gold prices advanced.  Crude oil prices fell over $3.00 per barrel.

Wall Street opened last Tuesday lower, dragged down by underperforming megacap technology stocks.  The Russell 2000 fell 1.4%, followed by the Nasdaq (-0.9%), the S&P 500 (-0.6%), and the Dow (-0.2%), while the Global Dow was flat.  Yields on 10-year Treasuries ticked lower to 4.27%.  Crude oil prices edged down $0.92 to $78.27 per barrel.  The dollar dipped to its lowest level in about two weeks.  Gold prices advanced 0.6%.

Stocks got off to a slow start last Wednesday but were able to pare some of their early losses by the end of trading.  The Dow, the Global Dow, and the S&P 500 ticked up 0.1%, while the Russell 2000 (-0.5%) and the Nasdaq (-0.3%) declined.  Ten-year Treasury yields gained 5.0 basis points to reach 4.32%.  Crude oil prices added $1.02 to close at about $78.06 per barrel.  The dollar and gold prices declined.

Last Thursday saw an upbeat earnings report from a chip-making giant help drive stocks higher.  The better-than-expected earnings results spurred investor optimism enough to drive both the S&P 500 (2.1%) and the Dow (1.2%) to new record highs, while the Nasdaq gained nearly 3.0%.  The Global Dow advanced 1.1% and the Russell 2000 added 1.0% to round out the benchmark indexes listed here.  The yield on 10-year Treasuries moved little, ending the session where it started at 4.32%.  Crude oil prices gained nearly $0.50 to close at $78.38 per barrel.  Gold prices and the dollar ended marginally lower.

Stocks were mixed last Friday, with the Global Dow (0.3%) gaining the most, while the Dow and the Russell 2000 inched up 0.2%.  The S&P 500 ended the day flat.  The tech-heavy Nasdaq couldn't maintain the previous day's momentum, sliding 0.3% by the close of trading.  Ten-year Treasury yields fell 6.7 basis points to 4.26%.  Crude oil prices dropped $2.00 per barrel.  The dollar was flat, while gold prices rose 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.