Weekly: A raft of earnings and retail sales highlight the tumultuous week
Last Week's RecapThe US Market - All major indexes fell for the second consecutive weekThe US stock market sold off as inflation data and Mideast fears dented investor sentiment, with the S&P 500 retreating 1.56% for the week.The Dow slid 2.37% as the major banks declined after earnings, JPM dropped more than 7% for the week.Safe haven gold is spiking, with consumers heading to their local Costco stores to snap up gold bars. Gold hit a fresh all-time high Friday.The CBOE Volatility Index rose to its highest level on Friday since October 2023. Iran launched an attack on Israel, escalating long-standing tensions between the two nations.That's still too fast for the Fed to start cutting rates, especially after a sizzling March jobs report. Treasury yields continued to rally, with the benc
Weekly: All eyes on inflation data and Q1 earnings season kicks off
Last Week's RecapThe US Market - Major indexes lost ground last week, while oil and yield hit 2024 highsDespite Friday's bounce, the three major indexes posted a losing week, as oil prices and treasury yield hit 2024 highs.The Dow slid 2.27% to below its 50-day line, posting its worst weekly performance in 2024. The Russell 2000 also logged its worst week since January as small-cap stocks struggled.Oil prices have rallied to five-month highs and registered a weekly gain as tensions boil in the Middle East with Israel closing embassies over threats from Iran. U.S. crude and Brent entered a “golden cross”, which is when the 50-day moving average outpaces the 200-day moving average.Treasury yields jumped. The 10-year Treasury yield closed at 4.378% on Friday and the benchmark briefly broke fo