Weekly Market Recap | 12/02/2024
What Happened Last Week All-Time Highs: Both domestic large- and small-caps hit fresh all-time highs
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Topics
What Happened Last Week All-Time Highs: Both domestic large- and small-caps hit fresh all-time highs
What Happened Last Week Stocks Rose: S&P 500 closed within a hair of all-time highs
What Happened Last Week Price Action: Headline equities sold off as investors digested marginally hawkish
What Happened Last Week Republican Election Sweep: Republicans granted a strong mandate to pursue an
What Happened Last Week Yields Rose: Concerns over higher spending in the U.S. post-election caused
What Happened Last Week Yields Pushed Higher: Talk of fiscal worries added to the existing
What Happened Last Week New All-Time High: S&P 500 notches new all-time highs and posted
What Happened Last Week Price Action: Fresh all-time highs in U.S. large caps on bank
What Happened Last Week Geopolitical Volatility: Oil soared over 9% as investors weighed Israeli retaliation
What Happened Last Week China: Property market support was announced over the weekend in major
What Happened Last Week Fed: Equities rallied as the Fed cut 50 bps to kick
What happened last week Stocks Rebound: U.S. large caps posted their best week of the
What happened last week Price Action: Poor September seasonality may be to blame for a
What happened last week NVDA: Nvidia’s (NVDA) beat and raise was not enough to impress
What happened last week Powell Pivot: Chair Powell validated the market’s view that a rate
What happened last week Market Recovery: S&P rallies to within 2% of its all-time high.
What happened last week Price Action: U.S. and global stocks ended the week practically unchanged
What happened last week Price action: Summer liquidity, poor economic data, a less dovish than
What happened last week Price Action: Small-caps continued to outperform year-to-date leaders, like the tech-heavy
What happened last week Equity Market Reversion: Small-caps outperformed mega-cap technology by a little less
What happened last week Softening Economic Data: Cooler than expected inflation data weighed on interest
What happened last week Price Action: MAG-7 leads U.S. equity indices to fresh all-time highs
What happened last week Reversion Price Action: Year-to-date equity trends continued their reversal last week;
What happened last week AI vs. the Rest: Year-to-date equity trends reversed last week as
What happened last week All-Time Equity Highs: Another week of new highs for U.S. large-caps
What happened last week AI Theme: NVIDIA (NVDA) rally to $3T in market capitalization vaults
What happened last week Revenge of the Meme Traders: Small-caps outperformed large-caps on resurgent trading
What happened last week Semis: NVDA’s “beat and raise” earnings report reignited the AI trade
What happened last week Price action: China led on a green week for global stocks,
What happened last week Price action: The S&P 500 rose higher and through key technical
What happened last week Earnings: Strong earnings from AI-exposed mega-cap technology supported a modest rally
What happened last week Stocks rose for the first time in four weeks on the
What happened last week Equities fell for the third consecutive week as rates continued to
What happened last week Equities sank as the 10-year Treasury yield surged above 4.5%. Third
What happened last week The second quarter opened with a whimper as stocks declined and
What happened last week Holiday-shortened week ends 1Q 2024 – U.S. equities (S&P 500) rose
What happened last week Dovish central bank policy meetings resulted in fresh S&P 500 all-time
What happened last week Last week’s price action was choppy and lacked a cogent narrative.
What happened last week Mega-cap tech underperformed the broad market and equal-weight indices as market
What happened last week Stocks rose as mega-cap tech and theAI theme continued to propel
What happened last week Nvidia, now a $2 trillion market-cap company, crushed lofty earnings expectations
What happened last week Hot inflation print pushed back the start of rate cuts; more
What happened last week A mega-cap-led rally lifted the S&P 500 above 5,000, a new
What happened last week Stocks ended the week higher on a mix of very strong
What happened last week Economic growth remains hot with inflation cooling – the probability of
What happened last week Action-packed and holiday-shortened trading week underscored by new all-time highs across
What happened last week Magnificent-7 (“MAG-7”) mega-caps led the “broadening-out” trades’ outperformers (e.g. small caps).
What happened last week The S&P 500 snaps its 9-week winning streak to end Friday
What happened last week 2023 set a high bar for 2024 market-wise, although new all-time
What happened last week Last week was a full macro week with a string of
What happened last week The S&P 500 has rallied for its sixth straight week, retracing
What happened last week A strong seasonal rally is in full swing as the S&P
What happened last week A short trading week saw the S&P 500 inch toward an
What happened last week Risk sentiment increased last week, lifting the S&P 500 through key
What happened last week Risk sentiment increased last week, lifting the S&P 500 through key
What happened last week Investors reduced market exposure due to geopolitical tensions weighing on equities
What happened last week Stocks and bonds sold off as geopolitical tensions outweighed strong economic
What happened last week Stocks close the week higher despite mounting geopolitical concerns and rising
What happened last week Stronger economic data and domestic political turmoil contributed to a resumption
What happened last week Last week, the quarter ended with both stocks and bonds mainly
What happened last week A more hawkish than expected Fed meeting saw higher interest rate
What happened last week Treasury yields continued to move last week higher on strong economic
What happened last week Strong data drove Treasury yields higher and stocks lower in a
What happened last week It was a recovery week for equities as yield moves continued
What happened last week A choppy week in markets saw small recoveries for stocks and
What happened last week The push higher in Treasury yields drove the third consecutive week
What happened last week Pressure building on the disinflation narrative as global bond yields surge
What happened last week Negative bond market developments likely drove the sell-off in equities Jobs
What happened last week Stocks climbed as the Fed and European Central Bank (ECB) raised
What happened last week Global stocks edge higher, led by the US, in a week
What happened last week Equities sold off in volatile trading to start the third quarter
What happened last week Strong end to a strong quarter with the S&P 500 closing
What happened last week Stocks sold off with small caps, value, and internationals leading losses
What happened last week Increasingly positive investor sentiment boosted the S&P 500 closer to all-time
What happened last week It was a quiet week, with recent trends reversing in favor
What happened last week Friday’s strong labor market data defined the trading week. A bipartisan
What happened last week A debt ceiling agreement was reached, and will likely become law
What happened last week The market saw year-to-date highs in stocks despite a lack of
Categories
Topics
What Happened Last Week All-Time Highs: Both domestic large- and small-caps hit fresh all-time highs over the holiday-shortened trading week. Rates Lower: Treasury yields fell
What Happened Last Week Stocks Rose: S&P 500 closed within a hair of all-time highs on the back of easing growth concerns, Trump’s cabinet picks,
What Happened Last Week Price Action: Headline equities sold off as investors digested marginally hawkish Fed commentary and Trump’s cabinet picks. Controversial Cabinet Picks: RFK
What Happened Last Week Republican Election Sweep: Republicans granted a strong mandate to pursue an ambitious policy with Trump’s decisive victory, anticipated majorities in Congress,
What Happened Last Week Yields Rose: Concerns over higher spending in the U.S. post-election caused yields to spike, dampening equity sentiment. Mega-cap Earnings: The NASDAQ
What Happened Last Week Yields Pushed Higher: Talk of fiscal worries added to the existing upside momentum for U.S. yields. Stocks Sold Off: Global equities
What Happened Last Week New All-Time High: S&P 500 notches new all-time highs and posted gains for the sixth consecutive week. Price Action: Financials, value,
What Happened Last Week Price Action: Fresh all-time highs in U.S. large caps on bank earnings and re-kindling of the AI narrative. Uncertainty: Market rallied
What Happened Last Week Geopolitical Volatility: Oil soared over 9% as investors weighed Israeli retaliation against Iran’s energy infrastructure. U.S. Jobs: A blow-out jobs figure
What Happened Last Week China: Property market support was announced over the weekend in major cities in addition to the raft of monetary and fiscal
What Happened Last Week Fed: Equities rallied as the Fed cut 50 bps to kick off its rate-cutting cycle, guiding for further rate decreases down
What happened last week Stocks Rebound: U.S. large caps posted their best week of the year, up about 4% and mostly reversing the worst week
What happened last week Price Action: Poor September seasonality may be to blame for a more than 4% decline in U.S. large caps. AI Woes:
What happened last week NVDA: Nvidia’s (NVDA) beat and raise was not enough to impress investors, resulting in a nearly double-digit sell-off. Strong Data: Second
What happened last week Powell Pivot: Chair Powell validated the market’s view that a rate cut is coming in September. Markets Rally: Investors took comfort
What happened last week Market Recovery: S&P rallies to within 2% of its all-time high. Healthy Data: Strong retail sales, good guidance from Walmart, and
What happened last week Price Action: U.S. and global stocks ended the week practically unchanged despite Monday’s historic volatility. Carry & Dispersion Trades: Unwinds in
What happened last week Price action: Summer liquidity, poor economic data, a less dovish than desired Fed, and positioning all contributed to a broad-based decline
What happened last week Price Action: Small-caps continued to outperform year-to-date leaders, like the tech-heavy NASDAQ 100. U.S. Data: U.S. GDP came in stronger than
What happened last week Equity Market Reversion: Small-caps outperformed mega-cap technology by a little less than 6% as year-to-date laggards continued their string of outperformance.
What happened last week Softening Economic Data: Cooler than expected inflation data weighed on interest rates; September rate cut now the base case. Equity Markets
What happened last week Price Action: MAG-7 leads U.S. equity indices to fresh all-time highs as small-caps and large-cap value decline. Softening Economic Data: Unemployment
What happened last week Reversion Price Action: Year-to-date equity trends continued their reversal last week; small caps and internationals led U.S. mega-cap technology. U.S. Debate:
What happened last week AI vs. the Rest: Year-to-date equity trends reversed last week as small-caps led mega-cap tech; quarter/month-end and specific product rebalancing flows
What happened last week All-Time Equity Highs: Another week of new highs for U.S. large-caps as Broadcom, Oracle, and Adobe earnings show AI-driven upside fundamental
What happened last week AI Theme: NVIDIA (NVDA) rally to $3T in market capitalization vaults U.S. large caps to fresh all-time highs. Strong Payrolls Data:
What happened last week Revenge of the Meme Traders: Small-caps outperformed large-caps on resurgent trading in “meme-stocks.” Slightly Softer U.S. Data: 1Q U.S. GDP was
What happened last week Semis: NVDA’s “beat and raise” earnings report reignited the AI trade and propelled mega-cap tech to fresh all-time highs. Hawkish Fedspeak:
What happened last week Price action: China led on a green week for global stocks, ratcheting higher as Chinese policy support continues to improve the
What happened last week Price action: The S&P 500 rose higher and through key technical levels, recovering the majority of April’s losses. Interest Rates: Ahead
What happened last week Earnings: Strong earnings from AI-exposed mega-cap technology supported a modest rally in US equities. Jobs report: The labor market remains strong
What happened last week Stocks rose for the first time in four weeks on the back of strong earnings. Economic data was weak, with GDP
What happened last week Equities fell for the third consecutive week as rates continued to climb higher. Strong retail sales print supported the trend of
What happened last week Equities sank as the 10-year Treasury yield surged above 4.5%. Third consecutive upside CPI surprise pushed rate cuts out of market
What happened last week The second quarter opened with a whimper as stocks declined and the U.S. Treasury yield curve bear steepened. Strong economic data,
What happened last week Holiday-shortened week ends 1Q 2024 – U.S. equities (S&P 500) rose over 10%, a strong (85 percentile since 1993) historical quarterly
What happened last week Dovish central bank policy meetings resulted in fresh S&P 500 all-time highs. Market leadership in the U.S.’s largecap growth extended last
What happened last week Last week’s price action was choppy and lacked a cogent narrative. 10-year U.S. Treasury yields rose by their most since last
What happened last week Mega-cap tech underperformed the broad market and equal-weight indices as market breadth improved. The underperformance of mega-cap tech is likely short-term
What happened last week Stocks rose as mega-cap tech and theAI theme continued to propel equitymarkets to new all-time highs. Retail speculation and flow into
What happened last week Nvidia, now a $2 trillion market-cap company, crushed lofty earnings expectations and sent equities to all-time highs. China’s equity performance picked
What happened last week Hot inflation print pushed back the start of rate cuts; more importantly, longer-term interest rate expectations drifted higher, weighing on equities.
What happened last week A mega-cap-led rally lifted the S&P 500 above 5,000, a new all-time high. Interest rates continued to drift higher as the
What happened last week Stocks ended the week higher on a mix of very strong AI-driven mega-cap earnings and a large upside surprise to January
What happened last week Economic growth remains hot with inflation cooling – the probability of a ‘soft landing’ or ‘no landing’ is increasing. The strong
What happened last week Action-packed and holiday-shortened trading week underscored by new all-time highs across major US equity indices. Economic data fueled the rally –
What happened last week Magnificent-7 (“MAG-7”) mega-caps led the “broadening-out” trades’ outperformers (e.g. small caps). Benign December CPI & PPI prints contributed to a dip
What happened last week The S&P 500 snaps its 9-week winning streak to end Friday less than 3% from all-time highs. Rates moved higher across
What happened last week 2023 set a high bar for 2024 market-wise, although new all-time highs are just a hair away from last week’s closing
What happened last week Last week was a full macro week with a string of positive surprises that drove a bid to risk assets. Consumer
What happened last week The S&P 500 has rallied for its sixth straight week, retracing back to 1Q ‘22 levels. Small-caps and other higher beta
What happened last week A strong seasonal rally is in full swing as the S&P 500 posted its best month since July 2022. The rally
What happened last week A short trading week saw the S&P 500 inch toward an all-time high. Short covering starts to narrow the dispersion between
What happened last week Risk sentiment increased last week, lifting the S&P 500 through key technical levels as Treasury yields plummeted. Bullish price action was
What happened last week Risk sentiment increased last week, lifting the S&P 500 through key technical levels as Treasury yields plummeted. Bullish price action was
What happened last week Investors reduced market exposure due to geopolitical tensions weighing on equities for the second week in a row. The relative stability
What happened last week Stocks and bonds sold off as geopolitical tensions outweighed strong economic and fundamental data. Long-end Treasury yields surged, sending the S&P
What happened last week Stocks close the week higher despite mounting geopolitical concerns and rising long-term interest rates. Bond market volatility driven by the Middle
What happened last week Stronger economic data and domestic political turmoil contributed to a resumption of the bond sell-off. Stocks reversed early weakness as a
What happened last week Last week, the quarter ended with both stocks and bonds mainly in the red. Long-end Treasury yields once again surged to
What happened last week A more hawkish than expected Fed meeting saw higher interest rate projections in 2024 and beyond. The long end of the
What happened last week Treasury yields continued to move last week higher on strong economic data. U.S. inflation came in slightly hotter than expected, driven
What happened last week Strong data drove Treasury yields higher and stocks lower in a holiday-shortened trading week. As China signals iPhone bans, $200B of
What happened last week It was a recovery week for equities as yield moves continued to dictate price action. Labor market data was good news
What happened last week A choppy week in markets saw small recoveries for stocks and bonds. Fed Chair Jerome Powell endorsed a data-dependent message at
What happened last week The push higher in Treasury yields drove the third consecutive week of simultaneous losses in equities and core bonds. Retail sales
What happened last week Pressure building on the disinflation narrative as global bond yields surge and commodities continue their rally Domestic equities were also lower
What happened last week Negative bond market developments likely drove the sell-off in equities Jobs report pointed to easing wage growth, indicative of progress towards
What happened last week Stocks climbed as the Fed and European Central Bank (ECB) raised rates to 22-year highs Continued string of strong US data
What happened last week Global stocks edge higher, led by the US, in a week characterized by slow and sluggish summer sessions Regional banks rallied,
What happened last week Equities sold off in volatile trading to start the third quarter Continued economic resilience drove Treasury yields higher and weighed on
What happened last week Strong end to a strong quarter with the S&P 500 closing at its highest level since last April Global yields rose
What happened last week Stocks sold off with small caps, value, and internationals leading losses as narrow market leadership continued Monetary policy developments were negative
What happened last week Increasingly positive investor sentiment boosted the S&P 500 closer to all-time high levels Fed delivers “hawkish pause,” signaling a hike in
What happened last week It was a quiet week, with recent trends reversing in favor of year-to-date underperformers like small-caps and Chinese equities. Technical factors
What happened last week Friday’s strong labor market data defined the trading week. A bipartisan debt ceiling bill averted the tail default scenario, suspending the
What happened last week A debt ceiling agreement was reached, and will likely become law this week. NVIDIA earnings were released and the results offer
What happened last week The market saw year-to-date highs in stocks despite a lack of progress on the debt ceiling negotiations in Washington. Hawkish Fed