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Last Week in Review

Last Week in Review

March 19, 2024

Last week, the stock market in the U.S. experienced declines. This happened because investors were worried after seeing higher than expected inflation numbers, making them think interest rates might stay high for a while. Here are the take aways.

  • The S&P 500, slightly dropped by 0.09%, reducing its increase for the year to 7.63%.
  • The Dow Jones, another major index, went up by 0.01%.
  • The Nasdaq, which has a lot of tech companies, fell by 0.68%.
  • The Russell 2000 Index, which tracks smaller companies, went down by 2.02%, making its loss for the year 3.44%. Small company stocks dropped a bit more than those of bigger companies.

People are feeling a bit less confident about spending money, according to a survey from the University of Michigan. This is partly because things cost more than they used to.  The consumer sentiment index fell, but historically a low index number has frequently been followed by a period of positive stock prices increases.

Looking at different parts of the market, six out of eleven big areas lost value. Real estate, consumer discretionary, and healthcare dropped the most, but energy, materials, and basic goods had smaller drops. Energy, Materials and Consumer Staples had gains for the week and the best performers so far this year have been companies in communication services, technology, and energy.

As for government bonds, the interest rates they offer went up. This means the 10-year loans and 2-year loans the government offers are paying a bit more interest than before.

The Russell 2000 Index is a small-cap U.S. stock market index that makes up the smallest 2,000 stocks in the Russell 3000 Index. It was started by the Frank Russell Company in 1984. The index is maintained by FTSE Russell, a subsidiary of the London Stock Exchange Group.

This material was developed and prepared by a third party for use by your Registered Representative. The opinions expressed and material provided are for general information and should not be considered a solicitation for the purchase or sale of any security. The content is developed from sources believed to be providing accurate information.