Market Week: October 30, 2023
The Markets (as of market close October 27, 2023)
Last week saw Wall Street endure another lackluster performance. Investors continued to fret over hawkish comments from Federal Reserve officials as inflation remained above the Fed’s target rate of 2.0%. In addition, higher bond yields and unrest in the Middle East also weighed on the market. Each of the benchmark indexes listed here ended the week lower, adding to losses from the previous week. The S&P 500 and the Nasdaq Composite entered correction territory during the week. Each of the market sectors declined, with the exception of utilities, which inched up 0.3%. Communication services and energy declined more than 7.0%. Crude oil prices fell, although a sharp climb last Friday could be the result of a widening of the Israel-Hamas conflict.