Investing Update: Meet The Rally’s Roadblock
What I'm buying, selling & watching
The S&P 500 posted a modest 0.1% gain this week, extending its winning streak to seven consecutive weeks. The Nasdaq, Dow, and Russell 2000 all finished in the red, with small caps taking the hardest hit at -2.4%.
The big story was inflation. Hotter than expected data sent the 10-year Treasury yield up 5.3% on the week to 4.60%, now up 10.4% year to date.
Oil surged 6.0% to $101.16, up a remarkable 74.6% for the year, keeping pressure on prices across the board. Gold and Bitcoin both pulled back, falling 3.7% and 3.8% respectively.
Market Recap
Weekly Heat Map Of Stocks
The Dow Components Performance YTD
My Take
Let me be blunt. Inflation is back. The 10-year yield is climbing. Oil is surging. There’s still a war. And yet, stocks keep going up. Seven weeks in a row for the S&P 500.
So what’s going on? It’s simple.