FINANCIAL STOCK MARKET  WEEK "Stocks closed last week higher" Market Week: April 29, 2024 

The Markets (as of market close April 26, 2024)

Stocks closed last week higher, driven up by tech and communication shares. Each of the benchmark indexes listed here climbed higher, led by the Nasdaq, which rose more than 4.0%.  With nearly 50.0% of S&P 500 companies reporting first-quarter earnings, 77.0% reported positive earnings per share and 60.0% reported positive revenue according to the latest information from FactSet).  Each of the market sectors closed last week ahead, with consumer staples and information technology leading the way.  Ten-year Treasury yields rose 5.0 basis points.  The dollar was relatively flat. Crude oil prices gained 0.5%, while gold prices fell 2.2%.

Wall Street saw an end to the bear run last Monday. Each of the benchmark indexes listed here posted solid gains, led by the Nasdaq, which climbed 1.1%. The Russell 2000 gained 1.0%, followed by the S&P 500 (0.9%), the Global Dow (0.8%), and the Dow (0.7%). Tensions in the Middle East eased, at least temporarily, as investors looked forward to a week of corporate earnings and key economic data. Each of the market sectors gained ground, with financials and information technology leading the way. The yield on 10-year Treasuries settled at 4.62%. The dollar was flat, while gold prices fell nearly 3.0%. Crude oil prices closed at $83.02 per barrel.

Stocks posted gains for the second straight day last Tuesday. The Russell 2000 (1.8%) and the Nasdaq (1.6%) led the benchmark indexes listed here, followed by the S&P 500 (1.2%), the Global Dow (1.0%), and the Dow (0.7%). Ten-year Treasury yields slipped to 4.57%.  Crude oil prices rose $1.40 to $83.29 per barrel. The dollar and gold prices declined.

Stocks were mixed last Wednesday, unable to gain traction throughout the day. A strong set of earnings reports wasn't enough to overcome investor concerns about rising interest rates. The Nasdaq, the S&P 500, and the Global Dow barely closed in the black, while the Russell 2000 fell 0.4% and the Dow dipped 0.1%. Ten-year Treasury yields gained 5.4 basis points to close at 4.57%. Crude oil prices lost $0.48 to settle at $82.88 per barrel. The dollar edged up 0.1%, while gold prices fell 0.4%.

Last Thursday saw stocks fall sharply after a lower-than-expected gross domestic product for the first quarter. The Dow fell 1.0%, followed by the Russell 2000 (-0.7%), the Nasdaq (-0.6%), the S&P 500 (-0.5%), and the Global Dow (-0.4%). Ten-year Treasury yields settled at 4.70%, an increase of 5.4 basis points. Crude oil prices climbed nearly $1.00 to $83.78 per barrel. The dollar dipped 0.3%, while gold prices gained 0.3%.

Strong earnings reports from some large tech companies helped propel stocks higher last Friday. The Nasdaq gained 2.0% on the day, while the S&P 500 and the Russell 2000 rose 1.0%. The Dow and the Global Dow advanced 0.4%. Ten-year Treasury yields slipped 3.7 basis points to 4.66%. Crude oil prices inched up $0.08. The dollar advanced 0.4%, while gold prices rose 0.3%.

• 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.