Broker Check

Nasdaq gained over 3% last week

May 23, 2023

Last week, major markets closed higher, with the Nasdaq gaining over 3% and the S&P 500 exceeding the 4200 level for the first time this year. However, the bond market experienced a decline due to rising interest rates. Fed officials expressed differing views on rate increases, but Fed Chairman Powell suggested that the policy rate may not need to rise as much as expected. Moving forward, the markets will need to navigate interest rates, the banking sector, and ongoing negotiations surrounding the Debt Ceiling in Washington, D.C.