US stocks end the week with strong gains and close at session highs

  • Nasdaq has best week in more than 2 months
  • Dow is up for the 6th straight day
  • S&P and Nasdaq rose the final 3 days of the week and 4 of 5 days.
  • S&P had its best week in 2022

The final numbers are showing:

  • Dow industrial average rose and 575.77 points or 1.76% to 33212
  • S&P index rose 100.38 points or 2.47% to 4158.23
  • NASDAQ index rose 390.49 point or 3.33% to 12131.14
  • Russell 2000 rose 49.61 points or 2.7% to 1887.85

For the trading week:

  • Dow industrial average rose 6.24%
  • S&P index rose 6.58%
  • NASDAQ index rose 6.84%
  • Russell 2000 rose 6.46%

Hey… its a good week. The catalyst was the expectation that  inflation  may have peaked as a result of a slowdown in the housing market and other weaker data. Yields moved lower for 3rd week in a row. The market priced out 3 rate hikes, and are now looking for 2. Fed’s Bostic also said the Fed may look to pause in September and reevaluate.

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