Stocks advanced last week as the broad market looked past inflationary pressures and focused on falling oil prices, declining bond yields, and ongoing diplomatic efforts in the Middle East.
Choppy Trading
Stocks bolted out of the gate to start the week, rebounding thanks to AI stocks, falling oil prices, and bond yields. The Nasdaq hit a record intraday high during Monday’s session.
The broad market went sideways on Tuesday as traders kept an eye on developments in the Middle East, while oil prices and Treasury yields slid further.3,4
Markets then fell midweek amid investor concerns over comments from one Fed official and two inflation updates. All three major averages were under pressure. The malaise hung on into Thursday, but stocks began to climb late in the day on upbeat reports out of the Middle East.5,6
All three major averages continued their recovery Friday, ending the day with some momentum going into the close.7
