A Look At The Past Week…..
The major benchmarks ended a volatile week of trading with the Dow shedding
0.9% for its fourth-straight weekly loss, while the S&P 500 was down 1.1%
for the week, and the tech-heavy Nasdaq falling sharply as well, for their
second-straight week in the red, finishing down 2.6%.
Monday – saw a developing Covid-19 omicron
variant situation but the Dow Jones Industrial Average and
the Nasdaq logged triple-digit wins, with the latter benefitting immensely from
a recovery in the tech sector.
Tuesday - U.S.
Federal Reserve Chairman Jerome Powell hinted that the central bank might speed
up its bond-buying taper – thus causing the “fear gauge” to come to life – major
indexes fell sharply.
confirmation of omicron’s presence in California sent the benchmarks down
Thursday - the Dow
managed to regain most of its lost ground on Thursday, rising over 500 points
that afternoon, and going on to gain more than 700 points at its session highs.
Friday - nonfarm
payrolls came in lower than expected for November, but the jobless rate dropped
and the labor participation rate rose. As well, more omicron cases became apparent
around the globe, and all three indexes logged daily and weekly losses.