FINANCIAL STOCK MARKET  WEEK "Eighth straight week of gains " December 25, 2023

The Markets (as of market close December 22, 2023)

Stocks notched their eighth straight week of gains heading into the holiday-shortened week.  While trading was generally light, investors remained bullish toward stocks as traders clung to the hope that the economy has survived the restrictive inflation-reducing policy of the Federal Reserve.  The S&P 500 enjoyed its longest weekly winning streak since late 2017, while the Nasdaq and the Dow marked the streaks since early 2019.  With one week to go in 2023, the S&P 500 is within 1.0% of reaching its all-time high, achieved in January 2022.  The Russell 2000, which was below its 2022 closing value in August, now is more than 15.0% above that level.  Investors were also encouraged by economic data released last week, which showed inflation continuing to trend lower, while new orders for durable goods advanced, a good sign for corporations. Crude oil prices ticked higher but remained below $75.00 per barrel. Yields on 10-year Treasuries moved marginally lower, while the dollar weakened on declining interest rates.

Equities edged higher to begin last Monday in what was expected to be a week of modest trading leading up to the Christmas holiday. The Nasdaq led the benchmark indexes listed here, gaining 0.6%, while the S&P 500 rose 0.5%. The Dow was flat, the Russell 2000 and the Global Dow ticked down 0.1%.  Megacaps performed well, while communication services and consumer staples led the market sectors.  Ten-year Treasury yields inched up 2.6 basis points to 3.95%. Crude oil prices ended relatively flat, while the dollar and gold prices dipped lower.

Stocks jumped higher last Tuesday. The Dow achieved its fifth straight record close after gaining 0.7%.  The Nasdaq and the Global Dow also rose 0.7%, while the S&P 500 gained 0.6%.  The big winner, however, was the Russell 2000, which climbed 2.0%. Yields on 10-year Treasuries closed at 3.92% after falling 3.2 basis points.  Crude oil prices continued to rally, gaining 1.5% to $73.58 per barrel.  The dollar slipped 0.4%, while gold prices rose 0.6%.

Wall Street cooled last Wednesday as investors may have taken some gains following a record-setting rally. Each of the benchmark indexes listed here lost ground.  The Russell 2000 fell 1.6%, while the S&P 500 and the Nasdaq each dropped 1.5%. The Dow declined 1.3% and the Global Dow dipped 0.8%.  Bonds continued to advance, with yields on 10-year Treasuries falling 4.5 basis points to 3.87%.  Crude oil prices slipped to $73.79 per barrel after declining 0.2%. The dollar edged up, while gold prices dipped lower.

Last Thursday saw stocks rebound as the Russell 2000 (1.7%), the Nasdaq (1.3%), and the S&P 500 (1.0%) each closed the session up by at least 1.0%.  The Dow gained 0.9% and the Global Dow added 0.6%.  Ten-year Treasury yields inched up less than 2.0 basis points to 3.89%.  Crude oil prices slipped to $74.02 per barrel.  The dollar fell 0.6%, while gold prices rose 0.4%.

Stocks closed generally higher last Friday.  The Nasdaq and the S&P 500 ticked up 0.2%, the Russell 2000 added 0.1%, while the Global Dow and the Dow broke even.  Ten-year Treasury yields changed little, closing at 3.90%. Crude oil prices dipped 0.4%. The dollar edged lower, while gold prices rose 0.7%.

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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.