Market Week: January 8, 2024

The Markets (as of market close January 5th, 2023)

After pulling off a surprisingly strong rally in the fourth quarter of 2023, the stock market took a tumble
during the first week of the new year. All five of the indexes listed here ended lower, with the Russell 2000 and the Nasdaq seeing the largest losses. Information Technology and Consumer Discretionary were the two worst-performing sectors, while health care, utilities, and energy posted decent gains. A solid jobs report pushed ten-year Treasury yields above 4.0% on Friday. Oil prices were volatile but ended the week 3.4% higher, primarily due to rising tensions in the Red Sea.

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