Stocks in the United States closed the week on a positive note, with the S&P 500 remaining near its all-time high. However, Nvidia’s stock continued to cool down after a remarkable run. The S&P 500 slipped 0.2 percent on Friday, while the Dow Jones Industrial Average edged slightly higher. The Nasdaq composite, on the other hand, fell 0.2 percent. Nvidia, in particular, dragged down the market as it closed its first losing week in the last nine.
Despite this, U.S. Treasury yields held steady as a preliminary report suggested that U.S. business activity is stronger than expected, and inflation remains muted. This stability in Treasury yields is an encouraging sign for investors, indicating that the economy is on a steady path.
Looking at the numbers, the S&P 500 fell 8.55 points, or 0.2 percent, to 5,464.62 on Friday. The Dow Jones Industrial Average rose by a mere 15.57 points, less than 0.1 percent, to 39,150.33. The Nasdaq composite experienced a larger drop, falling by 32.23 points, or 0.2 percent, to 17,689.36. On the other hand, the Russell 2000 index of smaller companies managed to rise by 4.64 points, or 0.2 percent, to 2,022.03.
Taking a broader view of the week’s performance, the S&P 500 is up 33.02 points, or 0.6 percent, while the Dow Jones Industrial Average has gained an impressive 561.17 points, or 1.5 percent. The Nasdaq composite had a relatively stagnant week, with a minimal increase of 0.48 points, less than 0.1 percent. The Russell 2000 index fared slightly better, rising by 15.87 points, or 0.8 percent.
Zooming out to the year-to-date performance, the S&P 500 has experienced a significant increase of 694.79 points, or 14.6 percent. The Dow Jones Industrial Average has also seen positive growth, with a gain of 1,460.79 points, or 3.9 percent. The Nasdaq composite has been the standout performer, surging by an impressive 2,678.01 points, or 17.8 percent. However, the Russell 2000 index has struggled, experiencing a slight decline of 5.04 points, or 0.2 percent.
It’s important to note that these figures provide a snapshot of the stock market’s performance up until now. Market conditions are subject to change, and it’s always wise to stay informed and consult with financial experts before making any investment decisions.
In conclusion, despite Nvidia’s stock cooling off and a minor slip in the market on Friday, the overall performance of U.S. stocks remains positive. The steady Treasury yields indicate a resilient economy, while the year-to-date gains in major indices reflect investor confidence. As always, it’s crucial to approach investment decisions with caution and seek professional advice to navigate the ever-changing landscape of the stock market.
