FINANCIAL STOCK MARKET  WEEK Market Week: September 16, 2024 

"Equities rallied notably last week,"  by Wendy Nelson 

Market Week: September 16, 2024

The Markets (as of market close September 13, 2024)

Equities rallied notably last week as investors awaited this week's Federal Reserve meeting in anticipation of at least a 25.0-basis-point reduction in interest rates.  Nine of the 11 market sectors ended last week higher, led by information technology.  Only financials and energy lagged.  The yield on 10-year Treasuries slipped to its lowest level since May 2023.  Crude oil prices posted the first weekly advance in over a month.  The dollar fell amid expectations of the aforementioned interest rate cut.

Investors took advantage of devalued stocks last Monday, sending values higher.  Each of the benchmark indexes listed here gained ground, with the Dow, the NASDAQ, and the S&P 500 all climbing 1.2%.  The Global Dow advanced 0.4%, while the Russell 2000 ticked up 0.3%.  Ten-year Treasury yields continued the prior week's tailspin, falling to 3.69%.  Prices for crude oil gained 1.5% to close at $68.68 per barrel.  The dollar and gold prices each increased 0.4%.

Equities closed mixed last Tuesday.  For the second straight day, tech shares helped drive the NASDAQ (0.8%) and the S&P 500 (0.5%) higher, while bank and energy stocks dragged the Dow (-0.2%) lower.  The Global Dow dipped 0.2%, while the small caps of the Russell 2000 ended the session flat.  Investors were occupied with the presidential debate that evening, plus the Consumer Price Index report released on Wednesday.  Bond prices continued to move higher, pulling yields down.  Ten-year Treasury yields fell 5.1 basis points to 3.64%.  Crude oil prices declined to $66.24 per barrel, the lowest price since 2021.  For the last several months, oil prices have been impacted by weakening demand in China, coupled with OPEC's 2024 and 2025 downwardly revised demand projections.  The dollar edged up 0.1%, and gold prices rose 0.5%.

Stocks climbed higher last Wednesday following the presidential debate and a favorable CPI report.  Once again, tech stocks led the charge, helping to propel each of the benchmark indexes listed here.  The NASDAQ rose 2.2%, followed by the S&P 500 (1.1%), the Russell 2000 and the Dow (0.3%), and the Global Dow (0.1%).  Crude oil prices rallied, climbing 2.2% to $67.19 per barrel.  Yields on 10-year Treasuries ticked up to 3.65%.  The dollar inched up 0.1%, while gold prices slipped 0.1%.  Investors were encouraged by the CPI, which came in at an annual rate of 2.5%, the lowest since February 2021.

Wall Street enjoyed a second straight positive day of trading last Thursday.  Stocks saw gains in most sectors, with technology, megacaps, and AI shares moving higher.  The small caps of the Russell 2000 (1.2%) led the benchmark indexes, followed by the Global Dow (1.1%), the NASDAQ (1.0%), the S&P 500 (0.8%), and the Dow (0.6%).  Ten-year Treasury yields inched up to 3.68%.  Crude oil prices rose 2.8% to $69.18 per barrel.  The dollar lost 0.4%, while gold prices advanced 1.8%.

Stocks closed the week higher last Friday.  Each of the benchmark indexes posted solid gains, with the Russell 2000 leading the charge after climbing 2.5%.  The Dow and the NASDAQ added 0.7%, the Global Dow rose 0.6%, and the S&P 500 advanced 0.5%.  Yields on 10-year Treasuries fell to 3.65%.  Crude oil prices ticked up 0.4% to $69.26 per barrel.  The dollar dipped 0.2%, while gold prices rose 1.1%.

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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.