The leading U.S. stock market index ended the week almost exactly flat, covering up a rollercoaster week for the S&P 500 which included itsAfter gaining 0.5% on Friday, the S&P closed the first week of August down 0.05%, dipping ever so slightly from 5,346.56 to 5,344.16.
The S&P actually just registered its fourth week with less than a 0.1% weekly movement of the last two years, but behind that ordinariness was major turbulence.3% Monday amidst global dread over an impending stock market crash partially tied to worse-than-expected U.S.
The other two leading American equity indexes, the Dow Jones Industrial Average and Nasdaq Composite, also recovered most of this week’s losses, with the top heavy Dow ending the week down 0.2% and the tech-concentrated Nasdaq booking a 0.6% weekly loss.Market narratives can change quickly, but they are not always right,” Raymond James' Chief Investment Officer Larry Adam wrote to clients about this topsy-turvy stretch for stocks.
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