Week in Review - Friday 7/28/2023
Recap of Last Week's Stock Market Trading - Friday 7/28/2023
- The Dow Jones Industrial Average rose 0.57%, to close at 35,459.29.
- The S&P 500 rose 0.99%, to close at 4,582.23.
- The Nasdaq Composite Index fell 0.12%, to close at 14,316.66.
The stock market had a mixed week, with the Dow and the S&P 500 ending the week slightly higher, while the Nasdaq Composite Index ended the week slightly lower.
There were a few factors that contributed to the mixed performance of the stock market last week. On the positive side, economic data was generally positive. Additionally, earnings season continued to be strong, with many companies reporting better-than-expected results.
On the negative side, there were some concerns about inflation, which remained elevated. Additionally, there were some concerns about the potential for a recession, as the Federal Reserve continues to raise interest rates in an effort to cool the economy.
Overall, the stock market had a mixed week last week. While there were some positive factors, there were also concerns that weighed on the market.
Key highlights from last week::
- GDP growth came in above expectations. The US economy grew at an annualized rate of 2.4% in the second quarter, beating expectations of 1.8%.
- Earnings season continued to be strong. Many companies reported better-than-expected earnings results in the second quarter.
- The annual inflation rate in the US slowed to 3% in June of 2023, the lowest since March of 2021 and compared to 4% in May and expectations of 3.1%.
- The Federal Reserve raised interest rates by 0.25 percentage points.
Week in Review - Friday 7/21/2023
A Recap of Last Week's Stock Market Trading - Friday 7/21/2023
- The major US stock indexes closed higher last week, with the S&P 500 and the NASDAQ reaching their highest levels in 15 months.
- The Dow Jones Industrial Average also closed higher, notching its 10th straight day of advances, its longest rally in almost six years.
- The rally was supported by a number of factors, including strong corporate earnings, easing inflation concerns, and expectations that the Federal Reserve will be less aggressive in raising interest rates than previously thought.
- However, there were some concerns about the sustainability of the rally, as some investors worried that the market was getting ahead of itself.
Key highlights from last week:
- The S&P 500 gained 2.3% for the week, closing at 4,536.34.
- The NASDAQ Composite gained 3.0% for the week, closing at 14,032.81.
- The Dow Jones Industrial Average gained 2.0% for the week, closing at 35,227.69.
- The Cboe Volatility Index (VIX), a measure of market volatility, fell 10% for the week.
- Corporate earnings were strong last week, with many companies reporting better-than-expected results.
- Inflation concerns eased last week, as data showed that prices were rising at a slower pace than in recent months.
- Expectations that the Federal Reserve will be less aggressive in raising interest rates also supported the market.
Overall, the market was relatively calm last week, with volatility remaining low. The rally was supported by a number of factors, including strong corporate earnings, easing inflation concerns, and expectations that the Federal Reserve will be less aggressive in raising interest rates than previously thought. However, there were some concerns about the sustainability of the rally, as some investors worried that the market was getting ahead of itself.
