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Heckuva week, Bernie!
The Fed held interest rates at 5.25%, igniting a powerful rally. Economic growth looked better, and while energy prices rose 6.5%, the Fed said inflation remained contained.
The S&P 500 had its best week in six months, gaining 1.8% (for a 6-year high). The Dow Industrials added 1.3%, building on its January gains. After two consecutive weeks in the red, the Nasdaq tacked on 1.7%.
Barron's "Trader" column notes that "Despite the broad surge, the lagging performance of key market leaders is a worrisome sign that bears watching. Financial stocks foundered in January as improving economic data pushes out expectations of a rate cut. And while the major indexes ended the month at their highs, the Nasdaq's peak came mid-January and technology stocks' momentum has since flagged." ...
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,479.66 | 1,110.06 | 2,179.06 | 32.53 |
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