Stocks climbed last week as reassuring inflation data boosted investor hopes that the rate-hike cycle was nearing an end amid fresh economic data pointing to continued economic resilience.
A late-week rally sent stocks into positive territory, with the S&P 500 index closing just shy of the 4,300 mark.
Stocks surged higher in the closing days of a holiday-shortened trading week, ignited by a political resolution on raising the debt ceiling and a strong employment report.
Markets moved in sync last week with perceived movement in debt ceiling talks, weakening early in the week and then surging on news of progress. A solid quarterly report and guidance from a mega-cap technology company helped with enthusiasm.
Stocks rallied last week, propelled by growing optimism over reaching a deal on raising the debt ceiling and avoiding a technical debt default by the U.S.
Stocks were mixed last week as good inflation news was offset by mounting debt ceiling concerns and rekindled regional banking fears.
A Friday rebound, triggered by a big tech company’s earnings beat and a strong jobs report, shaved much of the week’s accumulated losses.
The combination of an improving inflation outlook resulted in a week of uneven, albeit positive, performance, in which cyclical and financial stocks rallied while technology, real estate, and utilities lagged.
Stocks ended a shortened week of trading mixed amid revived recession fears on Wall Street triggered by weak economic data.
Stocks rallied last week on receding fears of a widening banking crisis, led by resurging investor interest in technology and communication services names.