Last week stocks resumed their winning streak, as investors appeared to welcome some hopeful signals that the economy might skirt a recession in 2023. Consumer discretionary stocks were solid, thanks partly to a big jump in Tesla shares over the week following a favorable outlook from CEO Elon Musk.
Last week, the major indexes ended mixed as recession fears appeared to weigh on sentiment. The narrowly focused Dow Jones Industrial Average performed worst. It gave back a portion of its strong rally in the first two weeks of the year, while the technology-heavy Nasdaq Composite recorded a modest gain.
I hope you are celebrating the life of Martin Luther King.
Stocks recorded second consecutive positive gains last week as investors weighed vital inflation data and quarterly earnings reporting season kicked off in earnest on Friday.
2022 was a brutal year even if its final quarter was slightly less so. Global equities fell 3.94% in December, but still managed to gain 9.76% for the quarter, making Q4 the year’s best for the MSCI All-Country World Index. That said, the ACWI tanked -18.36% in 2022,...
Last Week In ReviewA Friday rally following an encouraging jobs report left the major indexes with a gain to start the year. Communication services stocks led the gains, helped by rallies in Charter Communications, Netflix, and Facebook parent Meta Platforms. Trading...