23. Weekly Market Recap: Key Movements & Insights
šŖ Bitcoin Soars 10% Amid Market Recovery
Markets Rally Amid Rate Cut Optimism and Strong Earnings
The S&P 500 rebounded strongly this past week, recovering from the previous week's nearly 2% drop. Investors were buoyed by softer-than-expected inflation data and strong earnings reports, which renewed hopes for further Federal Reserve rate cuts in 2025.
The week began with a sharp drop on Monday, but markets quickly reversed. Inflation-related data released on Tuesday and Wednesday came in below expectations, fueling optimism that the Fed could continue easing monetary policy. The S&P 500 surged 1.8% on Wednesday, marking its best single-day performance since November 2024. Treasury yields fell in response to the data, while positive earnings from the banking sector added to the bullish sentiment.
Sector-wise, consumer durables, producer manufacturing, and process industries led the rally, while health technology, health services, and electronic technology underperformed. Gold prices continued their upward trajectory, while oil pā¦
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