FINANCIAL STOCK MARKET  WEEK Market Week: July 1, 2024 

"Stocks closed generally higher for the week" by Wendy Nelson 

The Markets (as of market close June 28, 2024)

Stocks closed generally higher for the week, with the Russell 2000, the Nasdaq, and the Global Dow posting gains, while the large caps of the Dow and the S&P 500 declined.  Ten-year Treasury yields rose as bond prices fell.  Crude oil prices gained about $1.00 per barrel.  The dollar and gold prices inched higher.  Investors are most likely reassessing their positions following the presidential debate between Joe Biden and Donald Trump.  The majority of the market sectors declined last week, with utilities and materials falling the most.  Consumer discretionary, communication services, and energy outperformed.

The week began with mixed results as the Nasdaq (-1.1%) and the S&P 500 (-0.3%) declined as a major AI company extended its losses for a third consecutive session, dragging the tech sector lower.  The Dow (0.7%), the Global Dow (0.6%), and the Russell 2000 (0.5%) moved higher.  Along with information technology, consumer discretionary was the only other sector to close in the red. The remaining market sectors gained ground, led by energy and utilities. Ten-year Treasury yields inched down to 4.24%. Crude oil prices closed at about $81.67 per barrel after gaining 1.2%.  The dollar dipped 0.3%, while gold prices rose 0.6%.

The AI rally resumed last Tuesday, pushing the Nasdaq (1.3%) and the S&P 500 (0.4%) higher.  The Dow gave back most of the prior day's gains after falling 0.8%. The Russell 2000 (-0.4%) edged lower while the Global Dow inched lower by less than 0.1%.  Yields on 10-year Treasuries dipped to 4.23%.  Crude oil prices reversed the previous day's gains after declining $0.90 to $80.77 per barrel. The dollar eked out a 0.2% gain, while gold prices fell 0.6%.

Once again, the market was mixed last Wednesday.  The Nasdaq (0.5%) and the S&P 500 (0.2%) advanced for the second straight session.  The Dow gained less than 0.1%.  The Russell 2000 and the Global Dow fell 0.2%.  Consumer discretionary outperformed among the market sectors, while energy and financials lagged.  Bond prices declined, pushing yields higher, as 10-year Treasuries gained 7.8 basis points to close at 4.31%.  Crude oil prices slipped to $80.66 per barrel.  The dollar rose 0.4%, while gold prices dipped 0.9%.

Stocks closed higher last Thursday led by the Russell 2000, which gained 1.0%.  The Nasdaq added 0.3%, while the Dow and the S&P 500 inched up 0.1%. The Global Dow dipped 0.2%.  Ten-year Treasury yields dipped 2.8 basis points to settle at 4.28%. Crude oil prices rose nearly $1.00 to $81.86 per barrel.  The dollar dipped 0.1%, while gold prices advanced 1.0%.

Friday's stock performance was lackluster, with each of the benchmark indexes listed here closing lower, except for the small caps of the Russell 2000, which gained 0.4%.  The Nasdaq lost 0.7%, followed by the S&P 500 (-0.4%) and the Dow (-0.1%). The Global Dow fell less than 0.1%.  Ten-year Treasury yields rose 5.5 basis points to close at 4.34%. Crude oil prices fell $0.40 per barrel.  The dollar was flat, while gold prices slipped 0.1%.

• LAST WEEK'S ECONOMIC NEWS
• EYE ON THE WEEK AHEAD

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.