In a remarkable turnaround, U.S. stock indexes witnessed their most substantial weekly gains of 2023, effectively reversing a recent downturn. Just a week after the S&P 500 and the NASDAQ entered correction territory, both indices experienced significant recoveries. The NASDAQ saw a remarkable surge of 6.6%, while the S&P 500 and the Dow recorded gains of 5.9% and 5.1%, respectively.
The preceding month, however, had marked a challenging period for U.S. stock markets, as they registered declines for the third consecutive month in October. The Dow slipped by 1.4%, the S&P 500 by 2.2%, and the NASDAQ by 2.8%. These results represented the first three-month losing streak for stocks since early 2020. Notably, the S&P 500’s closing level on October 31 was 8.6% below its year-to-date peak attained on July 31, reflecting the turbulence and uncertainties present in the market during that timeframe.
Reviewing the US Stock Markets, the Nasdaq Composite, recorded a decent gain of 320 points, reaching a closing value of 13,798 points by the end of the week. Similarly, the S&P 500 index showed a positive trend, gaining 57 points to settle at 4,415 points. Meanwhile, DJIA Index experienced a notable hike, rising by 222 points during the week and concluding at 34,283 points after a week of gain.
In contrast, Russell 3000 Index saw a gain in week performance, with a slight gain of 22 points to reach 2,515 points by the end of the week.
Moving to Russell 2000 Index, demonstrated a notable hike of 55 points, ending the week at 1,705 points.
