FINANCIAL STOCK MARKET  WEEK "Stocks closed generally higher": November 13, 2023

Stocks closed generally higher last week on continued hopes that the Federal Reserve is done raising interest rates despite more hawkish comments from Fed Chair Jerome Powell. Tech and growth stocks carried the market for much of the week as investors looked ahead to this week's inflation reports. Ten-year Treasury yields eased somewhat from recent 16-year highs. Crude oil prices fell for the third straight week. The dollar edged higher, while gold prices couldn't maintain momentum, declining nearly 3.0% last week.

Last Monday saw stocks close moderately higher to extend the prior week's winning streak. Each of the benchmark indexes posted gains, with the exception of the small caps of the Russell 2000, which fell 1.3%. The Nasdaq gained 0.3%, the S&P 500 advanced 0.2%, while the Dow and the Global Dow edged up 0.1%. Stocks began the day on an upswing, only to be dragged lower after a rebound in 10-year Treasury yields, which closed the session at 4.66%, up 10.4 basis points. Crude oil prices (0.5%) and the dollar (0.2%) ended the day up, while gold prices slid 0.7%.

The three major benchmark indexes, the Nasdaq (0.9%), the S&P 500 (0.3%), and the Dow (0.2%), extended their rally last Tuesday, while the Global Dow (-0.5%) and the Russell 2000 (-0.3%) declined. Bond prices advanced with yields on 10-year Treasuries falling 9.1 basis points to 4.57%. Crude oil prices fell 4.2% to $77.45 per barrel, marking the lowest closing price since August. China, the world's largest consumer of oil, saw it's exports fall for the sixth straight month in October, highlighting a slowdown in global demand. The dollar inched up 0.3%, while gold prices fell 0.7%.

The Nasdaq and the S&P 500 ticked up 0.1% last Wednesday, barely enough to keep their respective winning streaks alive. The Global Dow fell 0.2%, while the Dow and the Russell 2000 dipped 0.1%. Yields on 10-year Treasuries continued to slide, falling 4.8 basis points to 4.52%. Crude oil prices slumped to $75.46 per barrel, the lowest price since July. The dollar was unchanged, while gold prices declined 0.9%.

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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.