The trend may continue as the Fed is likely to hike rates this month amid a resilient economy and sticky inflation.Īdditionally, earnings optimism, especially in the banking and healthcare sector, instilled confidence in the blue-chip index Dow Jones. Since value stocks perform better in a rising rate environment than growth stocks, the Dow Jones had every reason to log a jump last week. treasury yield was 3.84% on Jul 21, 2023, while rates started the week at 3.81%, hit a weekly closing low of 3.75% on Jul 19 and a high of 3.85% on Jul 20. A decline in shares of tech biggies like Tesla and Netflix also cast a pall over Nasdaq. treasury bond yields helped the value-centric Dow Jones gain precedence over the growth-oriented Nasdaq. In fact, the Dow Jones Index logged its first 10-day rally since 2017.Ī spike in long-term U.S. The S&P 500 added 0.7%, the Dow Jones advanced 2.1%, the Nasdaq lost 0.6% and the Russell 2000 jumped 1.5% in the week under review. ![]() Wall Street delivered a mixed performance last week due to the steepening of the yield curve.
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