Azzad MarketWeek
Stocks ended last week down as Q2 corporate results, Middle East developments, and the chips trade took investors for a choppy ride.
The Nasdaq Composite Index was under the most pressure, falling 2.13 percent. The Standard & Poor’s 500 Index lost 0.61 percent, while the Dow Jones Industrial Average slipped 0.38 percent.
A Volatile Week
After a sluggish start on Monday, stocks rebounded on Tuesday as the chips trade led the markets higher, as investors turned their attention to Q2 corporate earnings results.
Then stocks stalled midweek as oil prices and bond yields rose and investors digested some initial Q2 reports. The S&P 500 ended just below the flatline, while the Dow went sideways and the Nasdaq posted a modest loss.
Stocks opened lower Thursday as mixed corporate updates from two of the world’s largest companies soured investor sentiment. One company said it was raising its AI spending forecast for the year, which unsettled investors who believed other companies may have to do the same.
Sentiment turned positive Friday morning as investors cheered quarterly results and guidance for one big tech company. But markets retreated in the afternoon as investors fretted over oil prices.
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