Recap of Last Week's Stock Market Trading - Friday 8/25/2023
The Dow Jones Industrial Average closed at 34,346.90
The S&P 500 closed at 4,405.71
The Nasdaq Composite Index closed at 13,590.65
The CBOE VIX closed at 15.68
Stock Market Review: August 19th to August 25th, 2023
The US stock market had a positive week, with all three major indexes closing higher. The rebound was driven by some positive economic data and some optimism that the Fed may be nearing the end of its rate-hiking cycle.
Key Events
Analysis
The positive performance of the stock market this week suggests that investors are becoming less concerned about the economic outlook. However, the market is still volatile, and it is possible that the volatility will continue in the near term.
Federal Reserve Chair Jerome Powell's speech at the Jackson Hole Economic Symposium on August 25, 2023:
Powell's speech was widely interpreted as a signal that the FOMC is prepared to take aggressive action to combat inflation, even if it means causing some economic pain. The speech initially sent stock prices down and bond yields up, as investors priced in the likelihood of higher interest rates in the coming months. At the close of the trading session, the DJIA and S&P ended higher
It remains to be seen how successful the FOMC will be in bringing inflation under control without causing a recession. However, Powell's speech made it clear that the central bank is willing to do whatever it takes to achieve its price stability mandate.
Recap of Last Week's Stock Market Trading - Friday 8/18/2023
The Dow Jones Industrial Average closed at 34500.66.
The S&P 500 closed at 4,369.71
The Nasdaq Composite Index closed at 13,644.85.
The CBOE VIX closed at 17.30
Key factors that could affect the stock market:
Recap of Last Week's Stock Market Trading - Friday 8/11/2023
The stock market had a negative week, with all three major indexes ending the week lower. The decline was driven by concerns about inflation, which remained elevated, and the potential for a recession, as the Federal Reserve continues to raise interest rates in an effort to cool the economy.
Here are some of the key events that took place in the US stock market last week:
Recap of Last Week's Stock Market Trading - Friday 8/5/2023
The stock market had a negative week, with all three major indexes ending the week lower. The decline was driven by concerns about inflation, which remained elevated, and the potential for a recession, as the Federal Reserve continues to raise interest rates in an effort to cool the economy.