Amid the reverberations of two U.S. banks being taken over by regulators and the spread of uncertainty to European banks, stocks trended higher last week on the strength of the technology sector.
A late-week surge, triggered by reassuring Fed-speak, propelled stocks higher last week.
Concerns over a firmer monetary policy were heightened by fresh economic data, touching off a climb in bond yields and a slide in stock prices last week.
Growing concerns about further interest rate hikes, prompted by fresh economic data, reversed early-week gains and left stocks mixed for the week.
Stocks drifted lower as a week of mixed earnings reports and resurgent worries over Fed monetary policy dragged on investor sentiment.
Stocks were mixed last week following better-than-expected corporate reports and increasing optimism over a slowdown in interest rates.
Stocks added to their early 2023 gains amid a busy stream of mixed corporate earnings results and conflicting economic data.
Stocks rallied last week thanks to fresh confirmation of inflation’s cooling trend and growing optimism that an inflation slowdown may provide the Fed with space to ease up on future rate hikes.
In a holiday-shortened week, erratic trading left stocks marginally down for the week.
The Dow Jones Industrial Average lost 0.17%, while the Standard & Poor’s 500 slipped 0.14%. The Nasdaq Composite index fell 0.30%. The MSCI EAFE index, which tracks developed overseas stock markets, edged 0.61% higher.1,2,3
Hawkish comments by the Fed and weak economic data heightened investors’ recession concerns and sent stocks lower last week.
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