Market Week: January 8, 2024
The Markets (as of market close January 5th, 2023)
After pulling off a surprisingly strong rally in the fourth quarter of 2023, the stock market took a tumble
during the first week of the new year. All five of the indexes listed here ended lower, with the Russell 2000 and the Nasdaq seeing the largest losses. Information Technology and Consumer Discretionary were the two worst-performing sectors, while health care, utilities, and energy posted decent gains. A solid jobs report pushed ten-year Treasury yields above 4.0% on Friday. Oil prices were volatile but ended the week 3.4% higher, primarily due to rising tensions in the Red Sea.
Market Week: January 1, 2024
The Markets (as of market close December 29, 2023)
The markets closed out last week and the year with gains, despite losing steam at the end of the week. Each of the benchmark indexes listed here ended last week higher, with the exception of the Russell 2000, which dipped 0.3%. The Dow and the S&P 500 logged their ninth straight week of gains, with the S&P 500 enjoying its longest weekly winning streak since 2004. Health care and utilities led the market sectors, along with industrials, financials, and real estate. Energy and communication services ended the week in the red. Bond values advanced, pulling yields lower. Crude oil prices closed the week and the year lower. The dollar edged down, while gold prices eked out a gain.