The S&P 500 rose 1.66% to 7437.63 in a choppy week marked by an AI-trade rebound, oil-market volatility tied to the U.S.-Iran conflict, and rising bond yields. RBC says the turbulence is normal during Federal Reserve leadership transitions and frames it as a valuation opportunity for U.S. stocks.
The S&P 500 rose 1.66% to 7437.63 during another choppy week for U.S. equities. The Dow Jones Industrial Average added 1.19% to 52208.06. The Nasdaq Composite jumped 2.78% to 25122.18.
This week also featured a rebound in the artificial-intelligence trade, alongside big tech earnings that produced highly divergent share-price reactions. Oil also swung, with crude climbing 0.68% to $84.16 as the U.S.-Iran war flares up again.
The Russell 2000 gained 1.37% as well. The dollar index rose 0.33% over the same span.
Uncertainty over Federal Reserve Chair Kevin Warsh's commitment to fighting inflation has also pushed long-term borrowing costs to 19-year highs, rattling stocks along the way. The 10-year Treasury yield stood at 4.678%.
RBC says pullbacks like this are normal during Federal Reserve leadership transitions, calling it a valuation opportunity for U.S. stocks. The VIX volatility index eased 1.46% to 16.84 at the same time.
Gold slipped 1.19% to $4111.10. Bitcoin fell 1.38% to $63854.48 over the same period.
Source: MarketWatch (snippet-based)
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