Equities were very much a mixed bag last week, as trading was generally quiet ahead of the Memorial Day weekend.
Despite drops in consumer confidence, import and export prices, crude oil inventories, and producer prices, the stock market rallied at the end of the week to post positive gains across the board led by the S&P 500, which closed at an all-time high.
Investor fears returned with a vengeance on Friday, as markets tumbled across the globe.
Despite a weaker-than-expected jobs report released on Good Friday, a day when markets were closed, last week proved to be a positive one for stocks.
The Russell 2000 continued to be more resilient than its domestic large-cap brethren, which ended the week little changed.
An uptick in equities on Friday couldn’t overcome the four-day downdraft across the board that preceded it.
An easy-does-it approach from the Federal Reserve’s monetary policy committee calmed immediate investor anxiety about future rate hikes.
Bulls and bears duked it out last week, with the Dow experiencing multiple triple-digit intraday swings.
Good news about unemployment proved bad news for the equities markets.
Equities markets were mildly buoyed by Federal Reserve Chair Janet Yellen’s congressional testimony and the grudging approval of Greece’s plans for qualifying for additional assistance.