Market Moving Updates

What impact did the week have on the market?

• Slow Pace in the market: The major U.S. stock indexes traded in a narrow range for the second week in a row, except for a modest rally on Thursday. The S&P 500 and the Dow both added around 1% to record their fourth positive week out of the past five and the NASDAQ generated a fractional gain.

As for bonds, yields of government bonds rose, regaining some of the ground they lost in a sharp decline in early March amid fears about bank liquidity. On Friday, the yield of the 10-year Treasury bond was around 3.52%—up from 3.29% a week earlier, but down sharply from a recent peak of 4.07% on March 2.

Source: Bloomberg

• Inflation Status: The U.S. Consumer Price Index fell to a 5.0% annual rate in March from 6.0% the previous month, bringing inflation to the lowest level in nearly two years. A separate report showed that wholesale inflation as measured by the Producer Price Index fell to 2.7%—the lowest in more than two years and down sharply from a 4.9% annual rise in February.

Source: WSJ

• Bitcoin Rally: The price of Bitcoin, the most widely traded cryptocurrency, eclipsed $30,000 on Tuesday for the first time since June 2022. As of Friday, the price was around $30,400—up from just under $20,000 as recently as March 10.

In addition, Ether advanced more than 1.5% to $1,922.06 as investors awaited the Ethereum network’s latest tech upgrade, scheduled for Wednesday. Earlier, it rose to $1,937.03, its highest level in a year.?

Source: Seeking Alpha?

Check out the Top 5 stocks in each industry:

What to expect for the markets next week?

• The week ahead: The latest updates on the housing market will become available, including March housing starts, building permits, and existing home sales, and the NAHB’s Housing Market Index for April.

• Earnings Report: Earnings season shifts into full gear next week, with some of the world’s largest companies set to report earnings, including Johnson & Johnson, Bank of America, Netflix, Lockheed Martin, Tesla, Morgan Stanley, IBM, American Express, and Procter & Gamble, among many others.?