Recap of market activity for the DJIA, S&P 500, and Nasdaq
On Friday, the Dow Jones Industrial Average had a bullish trend, rising by about 169 points, or 0.8%. According to FactSet’s preliminary statistics, there was a little weekly loss of 0.2% despite this rise. On the other hand, the Nasdaq Composite Index fell by 0.6% on Friday, while the S&P 500 index increased by 0.2%. With weekly losses of 1.1% and 2.4%, respectively, the S&P 500 and Nasdaq did not fare very well.
Market Movement Influencing Factors
Investor confidence about the Federal Reserve’s rate-hike cycle coming to an end initially helped the stock market. The declining business profits and Fed officials’ cautions that rates could stay high for a while have, however, tempered the euphoric mood. The yield curve on the U.S. Treasury market, another important indication, continues to signal the possibility of an American recession. The 10-year Treasury rate was 3.7% on Friday, while the 2-year Treasury rate was 4.5%, suggesting a significant inversion of the two rates, which historically has frequently occurred before downturns.