FINANCIAL STOCK MARKET  WEEK "Wall Street endured another down week"  Market Week: April 22, 2024 

The Markets (as of market close April 19, 2024)

Wall Street endured another down week as tech shares, which had been the bellwether of the bull market, were hit hard by major selloffs as investors worried about rising tensions in the Middle East and stubborn inflationary pressures.  The Dow managed to essentially break even by week's end, and that was the good news. The remaining benchmark indexes listed here declined, with the Nasdaq losing more than 5.5%.  Last week saw several Federal Reserve officials taking a more hawkish stance due to hotter-than-anticipated inflation data.  Ten-year Treasury yields gained 12.0 basis points as bond values slid lower. Crude oil prices declined, while gold prices extended their streak of gains.

Last Monday saw Wall Street extend losses from the previous week as rising tensions in the Middle East weighed on the markets. The Nasdaq fell 1.8%, followed by the Russell 2000 (-1.4%), the S&P 500 (-1.2%), the Dow (-0.7%), and the Global Dow (-0.5%). Money flowed into long-term bonds sending prices lower and yields higher.  Ten-year Treasury yields closed at 4.52% after adding 12.9 basis points. Crude oil prices were flat.  The dollar inched up 0.2%, while gold prices rose 1.1%.

Stocks continued to trend lower last Tuesday as bond yields climbed higher following hawkish comments from Fed Chair Jerome Powell. Among the benchmark indexes listed here, only the Dow ticked higher, gaining 0.2%.  The Global Dow fell 1.1%, the Russell 2000 dropped 0.4%, the S&P 500 dipped 0.2%, while the Nasdaq edged 0.1% lower.  Ten-year Treasury yields settled at 4.65% after gaining 3.1 basis points. Crude oil prices were relatively unchanged, closing at about $85.34 per barrel. The dollar gained 0.2% and gold prices rose 0.8%.

Tech stocks led a stock slide last Wednesday, with the Nasdaq falling 1.2%. The Russell 2000 lost 0.9%, the S&P 500 declined 0.6%, the Dow dipped 0.1%, while the Global Dow was flat. Ten-year Treasury yields lost 7.4 basis points, settling at 4.58%. Crude oil prices declined for the second straight day, falling to $82.74 per barrel.  The dollar and gold prices ended in the red.

Last Thursday saw the Nasdaq (-0.5%) and the S&P 500 (-0.2%) extend their losing streaks to five straight sessions. The Russell 2000 fell 0.3%, while the Dow (0.1%) and the Global Dow (0.4%) edged higher. Bonds lost value, driving yields higher with 10-year Treasury yields climbing 6.2 basis points to 4.64%.  Crude oil prices changed little, settling at about $82.67 per barrel. The dollar and gold prices eked out gains.

The S&P 500 and the Nasdaq ended lower for the sixth consecutive session last Friday. Tech shares were hard hit following a major selloff of the world's largest tech companies. The Nasdaq lost 2.1%, the S&P 500 fell 0.9%, and the Global Dow dipped 0.2%. The Dow (0.6%) and the Russell 2000 (0.2%) advanced. Ten-year Treasury yields fell 3.2 basis points. Crude oil prices gained 0.64%.  The dollar was flat, while gold prices inched up 0.2%.

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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.