For the first time in 2024, all three major indexes – the S&P 500, NASDAQ, and Dow – achieved a weekly total return of 2% or more. This collective advancement propelled each index to reach a new record high, marking a departure from the slight declines seen in the previous fortnight.
The stock market’s initially modest upward trajectory gained momentum early in the week, particularly following the Federal Reserve’s policy announcement on Wednesday. This pivotal event spurred the major indexes to record their most significant gains of the week. Subsequently, on Thursday, the S&P 500, NASDAQ, and Dow continued their positive momentum, culminating in record closing highs for each index.
Reviewing the U.S. Stock Markets, the Nasdaq Composite, recorded a decent drop of 49 points, reaching a closing value of 16,379 points by the end of the week. Similarly, the S&P 500 index showed a positive trend, adding 20 points to settle at 5,254 points. Meanwhile, DJIA Index experienced a notable hike, adding 332 points during the week and concluding at 39,807 points after a week of gain.
In contrast, Russell 3000 Index saw a losing in week performance, with a slight hike of 17 points to reach 3,012 points by the end of the week.
Moving to Russell 2000 Index, demonstrated a notable surge of 52 points, ending the week at 2,124 points.
