The Week of April 29, 2024
Stocks ended on a positive note for the week of April 29 as investors delibrated stagflation fears, a Fed rate decision, and big tech earnings while April finished downbeat and economic data revealed upward pressures for inflation.
For the week, the Dow Jones Industrial Average rose 1.1%, the S&P 500 advanced 0.5%, and the tech-heavy Nasdaq climbed 1.4%. In bondland, the U.S. 10-year Treasury note declined 17 basis points for the week to 4.498%.
Chart Source: Wells Fargo Investment Institute, "Looking Ahead," May 3, 2024.
Below is an inventory of our Daily Market Commentary for the Week of April 29:
- Monday, April 29 - The Week Ahead. U.S. stocks finished higher on Monday as investors awaited more big tech earnings, important labor data, and a Fed policy decision...Read More.
- Tuesday, April 30 - End of the Month. U.S. stocks finished in negative territory on Tuesday as investors closed a downbeat April...Read More.
- Wednesday, May 1 - Fed Day. U.S. stocks finished mixed as the U.S. Federal Reserve leaves rates unchanged...Read More.
- Thursday, May 2 - iFed. U.S. stocks finished higher on Thursday as investors were encouraged by the Fed's dovish messaging while awaiting big tech earnings...Read More.
- Friday, May 3 - Stocks Up, Jobs Down. U.S. stocks finished in positive territory on Friday as a cool jobs report boosted rate cut sentiment...Read More.
