The Week of April 8, 2024
It was a difficult week for U.S. stocks as inflation gauges revealed inflation remains sticky, leaving investors to question the timing and scale of interest rate cuts by the U.S. Federal Reserve. In addition to rate cut concerns, investors headed into the weekend uncertain about the possibility of widening tensions in the Middle East.
On Saturday, April 14, Iran launched an attack on Israel in retaliation to Israel's strike on Tehran's embassy in Syria. Meanwhile, earnings season kicked off with disappointing bank earnings on Friday, April 12.
For the week, the Dow Jones Industrial Average lost 2.37%, the S&P 500 dropped 1.56%, and the Nasdaq Composite fell 0.45%.
Below is an inventory of our Daily Market Commentary for the Week of April 8:
- Tuesday, April 9 - The Day Ahead. U.S. stocks finished mixed on Tuesday as investors awaited an update on consumer inflation...Read More.
- Wednesday, April 10 - Hot! U.S. stocks traded in negative territory on Wednesday morning as consumer inflation rose more than expected in March...Read More.
- Thursday, April 11 - Inflation. U.S. stocks finished mixed on Thursday as wholesale inflation came in slightly lower than expected...Read More.
- Friday, April 12 - Rough. U.S. stocks finished in negative territory on Friday as investors kick off earnings season with inflation worries on their minds...Read More.
Chart Source: Wells Fargo Investment Institute, "Looking Ahead," April 12, 2024.
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