Climbing Yields and Economic Data: A Rollercoaster Week on Wall Street

Monday:
A mixed batch of economic data and a rise in treasury yields influenced the market on the first trading day. Wall Street ended with mixed results, with the Dow declining by 0.6%, the S&P500 slipping 0.2%, and the Nasdaq managing a slight uptick of 0.1%.

Tuesday:
Bond yields continued to climb, leading to another day of losses for U.S. stock markets. The Dow, S&P500, and Nasdaq all fell, dropping by 1.0%, 0.7%, and 1.0%, respectively.

Wednesday:
Mixed economic data and comments from Federal Reserve Chair Jerome Powell contributed to a choppy trading session. The Dow decreased by 0.1%, while the S&P500 edged up by 0.1%, and the Nasdaq gained 0.2%.

Thursday:
Hawkish comments from Minnesota Fed President Neel Kashkari raised concerns about interest rates, causing Wall Street to close significantly lower. The Dow and Nasdaq both plummeted by 1.4%, while the S&P500 tumbled 1.2%.

Friday:
Sentiment improved with better-than-expected jobs data, leading to gains across the board. The Dow added 0.8%, the S&P500 increased 1.1%, and the Nasdaq surged by 1.2%. Despite Friday’s gains, all three major indexes ended the week with an overall loss.

Conclusion:
The week saw mixed performances influenced by various economic factors and interest rate concerns. Despite Friday’s positive momentum, overall losses were recorded across the major indexes. And that’s The Market In Review.

Stay tuned for our video forecast on the week ahead, where we’ll provide insights and predictions to help navigate the ever-changing landscape of the stock market.

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