The Week of April 22, 2024
Stocks bounced back, and senitment turned positive as big tech earnings were better than expected, overshadowing a rise in the Federal Reserve's favorite inflation gauge, the PCE price index.
For the week, the Dow Jones Industrial Average rose 0.7%, the S&P 500 advanced 2.7%, and the Nasdaq Composite jumped 4.2%. The S&P 500 and Nasdaq witnessed their largest weekly gain since early November, while the Dow Jones had its best week in roughly a month.
Below is an inventory of our Daily Market Commentary for the Week of April 22:
- Monday, April 22 - Bounce. U.S. stocks finished in positive territory on Monday as investors prepared for a new week of big tech earnings and inflation data. ...Read More.
- Tuesday, April 23 - Bounce Back. U.S. stocks finished in positive territory on Tuesday as investors digested economic updates ahead of corporate earnings...Read More.
- Wednesday, April 24 - Upside Down, Round and Round. U.S. stocks fluctuated on Wednesday, ending in mixed territory, as investors awaited corporate earnings while weighing rising yields...Read More.
- Thursday, April 25 - Stagflation Woes. U.S. stocks finished in negative territory on Thursday as corporate earnings and soft U.S. growth data weighed...Read More.
- Friday, April 26 - Of Earnings and Inflation. U.S. stocks traded firmly in positive territory heading into Friday's close as inflation met expectations and big tech earnings boosted sentiment...Read More.
Chart Source: Wells Fargo Investment Institute, "Looking Ahead," April 26, 2024.
