Investment Manager’s Analysis: U.S. Stocks Stage Comeback After Global Turbulence
In a week of extreme market turbulence, U.S. stocks closed higher on Friday, cutting losses significantly and staging a big comeback. The Dow Jones Industrial Average ended up 51.05 points, or 0.1%, at 39,497.54. The S&P 500 closed 24.85 points higher, or 0.5%, at 5,344.16. The Nasdaq Composite finished up 85.28 points, or 0.5%, at 16,745.30.
On a weekly performance basis, the Dow closed 0.6% lower, off from a peak 3.1% retreat at Monday’s close. The S&P 500 shed less than 0.1%, after sinking 4.3% on Monday. The Nasdaq ended down 0.2%, after tumbling 6.4% on Monday.
Treasury yields were also affected by market volatility, with the benchmark 10-year rate closing out the week at 3.943%, its sixth-lowest level of the year.
In conclusion, despite the initial turmoil, U.S. stocks managed to bounce back by the end of the week. Investors should remain cautious and monitor market trends closely to make informed decisions about their finances.