Azzad MarketWeek
Stocks were under pressure last week as corporate earnings results, rising oil prices, and AI valuation anxieties unsettled investors.
The Standard & Poor’s 500 Index lost 1.95 percent, while the Nasdaq Composite Index declined 4.48 percent. By contrast, the Dow Jones Industrial Average gained 0.67 percent.
Tough Week for Tech
Markets traded in a tight range over the first two days of the week as investors awaited a slew of Q3 corporate earnings results, mostly from big financial services companies, later in the week. That first batch of earnings announcements came in Tuesday, with mostly strong results, but high investor expectations kept markets from moving much.
Then midweek, investors appeared to rotate out of AI names as they digested a warm retail inflation report. Those two factors shifted sentiment, and stocks trended lower. However, the Dow Industrials proved more defensive, ending the session essentially flat.
On Thursday, AI stocks were under pressure again as investors appeared to favor more value-oriented names. As the week wrapped up, oil prices rose to their highest level since May, while sellers targeted AI- and tech-related names. The Nasdaq found some support at the close but still had its worst week since June.
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