FINANCIAL STOCK MARKET  WEEK Market Week: August 26, 2024 

"the stock market extended its winning streak to three straight weeks,"  by Wendy Nelson 

Market Week: September 3, 2024

The Markets (as of market close August 30, 2024)

Despite moments of trepidation, the stock market extended its winning streak to three straight weeks.  And even with its rough start, August marked the fourth month in a row of positive returns.  Several encouraging reports suggested that the economy is holding up and inflation is moderating, keeping alive hopes of a soft landing and a September rate cut by the Federal Reserve.  The Dow posted the largest gain to close out the week at an all-time high, and the Global Dow also soared.  The large caps of the S&P 500 posted a modest gain, the small caps of the Russell 2000 treaded water, and the tech-heavy NASDAQ ended the week in the red.  Financials, energy, and materials were the top performing sectors, while information technology and communication services lagged.  Bond prices fell, pushing up 10-year Treasury yields.  Regardless of heightened geopolitical tensions, crude oil prices slipped due to expectations of weaker global demand.  Gold prices fell and the dollar rose.

Stocks couldn't maintain their momentum last Monday, though the Dow (0.2%) and the Global Dow (0.1%) pulled off slight gains.  Declining tech stocks dragged down the NASDAQ (-0.9%), while the Russell 2000 (-0.4%) and the S&P 500 (-0.3%) also posted losses.  The 10-year Treasury yield fell to 3.82%.  Crude oil spiked more than 2.9% on the news that Libya would halt exports.  Gold prices and the dollar also rose.

The Global Dow (0.4%), the NASDAQ (0.2%), and the S&P 500 (0.2%) all closed higher on Tuesday, while the Russell 2000 declined 0.7%.  The Dow ended the day where it began, sitting at an all-time high.  The 10-year Treasury yield rose slightly to 3.82%.  Crude oil prices dropped 2.2% to about $75 per barrel.  Gold prices advanced and the dollar retreated.

Last Wednesday, all of the benchmark stock indexes listed here ended up in the red.  The NASDAQ fell 1.1%, followed by the Russell 2000 (-0.7%), the S&P 500 (-0.6%), the Dow (-0.4%), and the Global Dow (-0.3%).  The 10-year Treasury yield ticked up again to 3.84%.  Crude oil prices fell more than 1.5%.  Gold lost value and the dollar advanced.

Stock market returns were mostly positive on Thursday, with one major exception.  Shares of a high-profile chipmaker sold off due to a disappointing forecast, even though it reported second-quarter earnings that beat expectations.  Those losses weighed on the NASDAQ, which fell 0.2%.  The S&P 500 and the Global Dow both ended the day flat.  The small caps of the Russell 2000 posted a 0.7% gain, followed closely by the Dow, which climbed 0.6% to reach another record high.  The yield on 10-year Treasuries inched up for the third-straight day to close at 3.86%.  Crude oil prices rose nearly 2.0%, settling just under $76.00 per barrel.  Gold prices and the dollar also advanced.

Investors kicked off the holiday weekend in good spirits on Friday, after the Fed's preferred gauge pointed to tamer inflation.(See below.) All of the major stock indexes listed here closed higher.  The NASDAQ gained 1.1% and the S&P 500 rose 1.0%, followed by the Russell 2000, which climbed 0.7%.  The Global Dow and the Dow returned 0.6%.  The benchmark 10-year Treasury yield added 4.4 basis points and settled at 3.91%.  Crude oil prices dropped 3.0% and Gold prices fell 1.0%, while the dollar edged up slightly.

• STOCK MARKET INDEXES
• 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.