FINANCIAL STOCK MARKET  WEEK "stocks closed out last week higher" March 25, 2024

The Markets (as of market close March 22, 2024)

Despite a dip last Friday, stocks closed out last week higher.  The S&P 500 recorded its biggest weekly percentage gain of the year, while the Dow and the Nasdaq hit record highs.  Investors gained a bit of encouragement after the Federal Reserve maintained projections for three interest rate cuts by year's end.  Each of the market sectors moved higher last week, with communication services and industrials gaining 3.9% and 3.5%, respectively. Both the dollar and gold prices advanced.  Crude oil prices declined for the week, influenced by a rising dollar (since oil is priced in dollars, if the dollar goes up, oil prices generally go down, because you need fewer dollars to buy that oil).

Wall Street got off to a good start last week, led by tech and AI stocks.  The Nasdaq rose 0.8%, followed by the S&P 500 (0.6%), the Global Dow (0.3%), and the Dow (0.2%).  The small caps of the Russell 2000 fell 0.7%.  Yields on 10-year Treasuries rose 3.6 basis points to 4.34%.  Crude oil prices jumped $1.87 to settle at about $82.91 per barrel, the highest level since October. Reduced crude exports from Iraq and Saudi Arabia, along with rising demand, helped drive crude oil prices higher.  The dollar and gold prices inched up 0.2% and 0.1%, respectively.

Stocks advanced for a second straight session last Tuesday as investors awaited the results of the Federal Reserve meeting. While it is widely anticipated that the Fed will maintain interest rates at their current level, attention will be focused on the projected frequency and timing of potential rate cuts.  The Dow (0.8%) led the benchmark indexes, followed by the S&P 500 (0.6%), the Russell 2000 (0.5%), the Nasdaq (0.4%), and the Global Dow (0.3%). Ten-year Treasury yields settled at 4.29% after falling 4.3 basis points.  Crude oil prices continued to surge, rising $0.75 to $83.47 per barrel.  The dollar rose 0.2%, while gold prices dipped 0.2%.

Wall Street rallied last Wednesday as investors were cautiously encouraged by the Federal Reserve's projections of three interest rate cuts this year.  The Russell 2000 advanced 1.9%, the Nasdaq rose 1.3%, the Dow climbed 1.0%, the S&P 500 gained 0.9%, and the Global Dow increased 0.7%.  Ten-year Treasury yields dipped 2.4 basis points, settling at 4.27%.  Crude oil prices saw the end to a rally as prices fell $1.63 to $81.84 per barrel.  The dollar fell 0.4%, while gold prices rose 1.4%.

Stocks continued to climb higher last Thursday, with each of the benchmark indexes listed here advancing. The Russell 2000 led the charge for the second straight session after increasing 1.1%, followed by the Global Dow (0.8%), the Dow (0.7%), the S&P 500 (0.3%), and the Nasdaq (0.2%).  Ten-year Treasury yields moved minimally, closing at 4.27%. Crude oil prices dipped for the second consecutive day, settling at $80.90 per barrel.  The dollar rose 0.6%, while gold prices rose 1.1%.

Equities closed generally lower last Friday, with only the Nasdaq finishing the session up after gaining 0.2% to reach a record high. The Russell 2000 lost 1.3%, followed by the Dow (-0.8%), the Global Dow (-0.3%), and the S&P 500 (-0.1%). Crude oil prices fell for the third straight session, dipping 0.31%.  Ten-year Treasury yields fell 5.3 basis points to 4.21%. The dollar advanced 0.4%, while gold prices were flat.

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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.