Azzad MarketWeek
Stocks ended last week mixed as investors navigated the Fed’s rate decision, Treasury yields, oil prices, and the volatile AI trade.
The Standard & Poor’s 500 Index declined 0.09 percent, while the Nasdaq Composite Index rose 0.72 percent. The Dow Jones Industrial Average fell 1.70 percent.
Mixed Markets
Stocks opened lower to start the week as safety concerns tempered the artificial intelligence trade and oil prices rose. Markets slid again over the next session as the bellwether 10-year Treasury yield rose above 5 percent to a 19-year high.
Markets steadied midweek as investors awaited the Fed’s decision on the final day of its September meeting. The Fed raised short-term interest rates by a quarter percentage point in a widely anticipated decision, reflecting inflation concerns. Stocks fell following the decision, but declines in the broader market were modest.
Stocks rebounded Thursday, clawing back some losses from the prior session. Lower oil prices, falling Treasury yields, and advances in a handful of megacap tech stocks helped lift all three major market averages. But the relief rally stalled out a bit on Friday morning as Treasury yields rose again.
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