FINANCIAL STOCK MARKET  WEEK Market Week: September 30, 2024 

"Wall Street enjoyed a solid week of gains,"  by Wendy Nelson 

Market Week: September 30, 2024

The Markets (as of market close September 27, 2024)

Wall Street enjoyed a solid week of gains following a rough start to the month.  Each of the benchmark indexes listed here advanced, with the exception of the Russell 2000, which is generally the most volatile of the aforementioned indexes.  Eight of the 11 S&P 500 market sectors closed the week ahead, led by materials and utilities.  Only health care, financials, and energy declined.  The personal consumption expenditures (PCE) price index, the preferred inflation indicator of the Federal Reserve, inched up 0.1% in August and 2.2% over the last 12 months, nearing the Fed's 2.0% target.  Signs of cooling inflationary pressures likely fueled expectations that the Fed may cut interest rates again this year.  Gold prices hit a record high earlier in the week, only to pull back later.  Crude oil prices fell below $70.00 per barrel.

Stocks began the last week of September with mixed results.  The Global Dow (0.4%) led the benchmark indexes listed here.  The S&P 500 (0.3%) and the Dow (0.2%) ticked up higher, but enough to achieve fresh record highs.  The NASDAQ ticked up 0.1%.  The Russell 2000 (-0.3%) lagged.  Ten-year Treasury yields inched up 1.1 basis points to 3.73%.  Crude oil prices fell 0.7%, settling at about $70.52 per barrel.  The dollar and gold prices posted marginal gains.

The S&P 500 and the Dow hit new records last Tuesday after climbing 0.3% and 0.2%, respectively.  The Global Dow (0.8%) gained the most of the remaining benchmark indexes listed here, followed by the NASDAQ (0.6%) and the Russell 2000 (0.2%).  Crude oil prices jumped 1.6% to settle at $71.51 per barrel, pushed higher by China's major economic stimulus measures and escalating tensions in the Middle East.  Yields on 10-year Treasuries were unchanged, closing at 3.73%.  The dollar fell 0.5%, while gold prices rose 1.4%.

Last Wednesday saw an early-day rally lose steam by the close of trading.  Among the benchmark indexes listed here, only the NASDAQ was able to avoid ending the session in the red by less than 0.1%.  The remaining indexes declined, with the Russell 2000 falling 1.2%, followed by the Dow (-0.7%), the Global Dow (-0.4%), and the S&P 500 (-0.2%).  Bond prices also dipped, sending yields higher, with 10-year Treasuries settling at 3.78%.  Crude oil prices slipped just below $70.00 per barrel after declining 2.6%.  The dollar (0.5%) and gold prices (0.3%) advanced.

Strong corporate earnings and favorable economic data helped lift stocks higher last Thursday.  The Global Dow led the indexes after gaining 1.1%.  The NASDAQ, the Dow, and the Russell 2000 each climbed 0.6%.  The S&P 500 rose 0.4%, enough to notch another record high.  Ten-year Treasury yields ticked up to 3.79%.  Crude oil prices decreased for the second straight day, falling 3.2% to $67.47 per barrel.  The dollar fell 0.3%, while gold prices advanced 0.4%.

Stocks finished mixed on Friday as investors contemplated how the Federal Reserve would view the latest inflation data.  The Russell 2000 gained 0.7%, the Global Dow rose 0.5%, while the Dow reached another record high after increasing 0.3%.  The NASDAQ fell 0.4% and the S&P 500 dipped 0.1%.  Crude oil prices rebounded after advancing 1.3%.  Yields on 10-year Treasuries dipped to 3.74%.  The dollar and gold prices declined.

• 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.