Azzad MarketWeek
Stocks ended last week higher after an up-and-down week where a kitchen sink of economic, geopolitical, and AI-related events competed for investors’ attention.
The Standard & Poor’s 500 Index rose 1.15 percent, while the Nasdaq Composite Index advanced 0.64 percent. The Dow Jones Industrial Average gained 0.93 percent.
A Choppy Advance
Stocks opened higher to start the week, demonstrating continued resilience despite rising Treasury yields. Stocks continued their climb on Tuesday as cooler yields prevailed and oil prices treaded water. AI chipmakers led the broad market higher, with the S&P 500 closing above 7,800 for the first time and the Nasdaq also notching a record close.
Then markets stumbled midweek, opening lower on Wednesday after Treasury yields hit fresh multidecade highs. However, stocks rebounded after an encouraging 10-year Treasury auction appeared to allay some fears, with the S&P 500 and the Nasdaq reversing the lion’s share of declines by the closing bell.
Jitters crept back into market sentiment as stocks opened lower Thursday. The Nasdaq closed down nearly 1½ percent, its biggest one-day decline since mid-August.
Stocks rebounded Friday to finish the week strong, with megacap tech stocks rallying and oil prices falling on news of a deal to supply diesel to U.S. and global markets. Healthcare stocks also contributed to the gains as the Nasdaq logged its fourth consecutive weekly gain.
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