Market Week: July 22, 2024
The Markets (as of market close July 19, 2024)
The market saw stocks come in with mixed returns. The Dow and the Russell 2000 advanced, while the
Nasdaq, the S&P 500, and the Global Dow lost value. The Dow reached three new records during the
week, while the Nasdaq and the S&P 500 posted their worst week since April. AI stocks led a downturn in tech shares as investors moved to small caps. The CrowdStrike outage impacted flights, banks, telecoms, and media companies worldwide. The market sectors ran the gambit of highs and lows, with energy (1.7%), financials (1.3%), and real estate (1.3%) climbing, while information technology (-4.6%) and communication services (-2.8%) declined. Ten-year Treasury yields rose 5.0 basis points. Crude oil prices declined on demand worries centered on China. The dollar inched up, while gold prices dipped lower.