Insights

U.S. stocks opened last week with notable momentum, pushing the Dow, the NASDAQ, and the S&P 500 to record highs by mid-week. Investors apparently ignored lingering inflation and a politically charged Federal Reserve.

The U.S. stock market ended last week with strong gains, which led to record highs for the S&P 500 and the NASDAQ. The surge in stock values was largely driven by a better-than-expected jobs report (see below), falling crude oil prices, and robust tech company earnings.

Stocks surged last week with the easing of geopolitical tensions that had weighed on equities for weeks. The S&P 500 crossed the 7,000 point barrier, while the NASDAQ achieved its longest winning streak (12 straight sessions) since 1992.

Last week was marked by volatility as investors moved cautiously ahead of this week's Federal Reserve meeting.