The Week In Review


The major averages closed mixed with the Dow and Nasdaq extending their winning streak to seven weeks. The Dow Jones Industrial Average rose 56 points or 0.15% led by Boeing u p3% to a new 52 week high. The S&P 500 fell 36 cents while the Nasdaq rose 52 points or 0.35%.

Price moves in the markets this week could've been exaggerated by the simultaneous expiration of stock index futures and options today. The rally got going this week when the Federal Reserve Chairman on Wednesday admitted that its efforts to tamp down inflation are taking hold, and indicated three interest rate cuts could come in 2024, boosting investor sentiment.

The November retail sales this week came in stronger than expected on Thursday, following cooler inflation data readings helping lend support to the Federal Reserve that its navigating a soft landing in the economy.

In corporate, news Costco rose 4% after hitting an all-time high during the session. The retailer surpassed Wall Street's estimates for quarterly results and issued a special dividend of $15 per share.

With this week's rally, the S&P 500 marked its longest weekly winning streak since 2017. The S&P 500 stands just 2% from all time high set in January last year. On the month, the Dow is higher by 3.8%. The S&P 500 is up by 3.3%, while the Nasdaq Composite has climbed 4.1%.

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