The major U.S. stock indexes had a promising start to the week but turned bearish on Thursday and Friday as the earnings season kicked off. While the S&P 500 and the Dow managed to secure slight weekly gains, the NASDAQ experienced a marginal decline.
A U.S. small-cap stock barometer, the Russell 2000 Index, lagged behind its large-cap counterparts, posting a decrease of approximately 1.5% for the week. This recent performance further accentuated the underperformance of small caps in the year-to-date perspective, with the Russell 2000 now down by roughly 1% in 2023. Notably, the index has receded by about 14% from its year-to-date peak recorded on July 31.
Reviewing the US Stock Markets, the Nasdaq Composite, recorded a decent drop of 424 points, reaching a closing value of 12,983 points by the end of the week. Similarly, the S&P 500 index showed a negative trend, losing 103 points to settle at 4,224 points. Meanwhile, DJIA Index experienced a notable shed, dived by 543 points during the week and concluding at 33,127 points after a week of loss.
In contrast, Russell 3000 Index saw a drop in week performance, with a slight loss of 59 points to reach 2,414 points by the end of the week.
Moving to Russell 2000 Index, demonstrated a notable drop of 39 points, ending the week at 1,680 points.
