June 9, 2023, Weekly Stock Market Return Recap. Stocks rose on the week moving the S&P 500 broad market index into new bull market territory with a +20% recovery from the lows back in October of last year. For the week, the S&P 500 finished up 0.4%, the Dow gained 0.3% and the Nasdaq eked out 0.1%. However, over one half of the 11 sectors in the S&P 500 are still in the red, while Information Technology (+35%) and Communication Services (+33%) sectors are largely carrying the index upward on the year. Yes, insofar as the sector participation breadth has increased in June from previous months, the fact that technology and to a smaller part, consumer discretionary, are driving the positive equity index market gains on the year is a sign the lingering problems for the prospects of a healthy, sustainable bull market.
June 2, 2023, Weekly Stock Market Return Recap. Stocks buoyed on jobs data and debt default averted. For the week, the S&P 500 rose 1.82%, the Dow added 2.02% and the Nasdaq gained 2.04%. A lot of positive developments on the week with the government debt ceiling suspended for two years and unemployment jumping to a seven-year high at 3.7%; in particular, the easing of labor spiked sentiment that the Federal Reserve may skip a rate hike in two weeks.