Mixed Data Leaves Investors Anxious
The Weekly Update
Week of October 14th, 2024
By Christopher T. Much, CFP®, AIF®
Stocks advanced last week despite mixed inflation data, lurching oil prices, and lingering anxiety about the Middle East.
The Standard & Poor’s 500 Index gained 1.11 percent, while the Nasdaq Composite rose 1.13 percent. The Dow Jones Industrial Average picked up 1.21 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, added 0.23 percent.
Up And Down Week
Stocks slipped on Monday as oil continued to rise but moved higher on Tuesday as the technology sector showed the way. Oil prices fell back as investors took a wait-and-see stance concerning Middle East tensions.
The S&P 500 and Dow Industrials hit fresh record highs on Wednesday but dipped Thursday morning after the latest Consumer Price Index (CPI) data showed inflation was warmer than expected.
Earnings season kicked off Friday, and update reports from a few money center banks injected some enthusiasm …
