WEEKLY BUSINESS ROUNDUP
Global Business Week: America’s $20 trillion Economy by State
The state of Financial markets & Economies, Weekly Charts, Business Trends & Statistics
Stocks closed nearly unchanged on Friday, with investors focusing on upcoming earnings reports and anticipating the Federal Reserve’s final rate hike in the current cycle. The Dow Jones eked out a gain, achieving its 10th consecutive winning session, the longest streak in almost six years. This indicates a broadening rally, extending beyond chip makers and tech firms to other sectors like healthcare, energy, and banking. Notable quarterly reports came from American Express & Interpublic, with the latter being the top percentage loser on the S&P 500.
After a surge in the previous session, Treasury yields stabilized, partly influenced by positive economic data showing a continued decline in initial jobless claims. The 10-year yield was down 1 basis point to 3.84%, while the 2-year yield, more sensitive to rate changes, rose by 1 basis point to 4.85%. The Dow gained 2.1% for the week, the S&P 500 added 0.7%, but the Nasdaq Composite slipped by 0.6%.
Early Friday, the Relative Strength Index (RSI) indicator on the daily chart climbed above 40, indicating that the US Dollar Index (DXY)…
