(Bloomberg) — A roller-coaster week for markets ended on that very same word, with shares whipsawing as merchants tried to make sense of a myriad of headlines across the economic system, tariffs and geopolitical developments.
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Simply minutes after a slide that drove the S&P 500 down over 1%, the gauge staged an “oversold bounce” as Federal Reserve Chair Jerome Powell mentioned the economic system is okay. The Nasdaq 100 moved away from the brink of a correction. Bonds fell. Within the first sign of a optimistic response from President Vladimir Putin to US counterpart Donald Trump’s name for a ceasefire, Russia was mentioned to be prepared to debate a brief truce in Ukraine. The greenback noticed its worst week since November 2022.
“What I do know is that volatility looks like the one factor that’s sure in the intervening time,” mentioned Kenny Polcari at SlateStone Wealth. “Buyers ought to make certain they perceive that and are ready for what meaning. So, be sure you are nicely diversified for this trip.”
It’s been a whirlwind of every week for markets as tariffs hit a fever pitch, sending the S&P 500 right into a tailspin that briefly drove it beneath a carefully watched technical degree: its 200-day transferring common. Whereas the gauge noticed a late-day rebound, it nonetheless ended with its worst weekly selloff since September.
Wall Avenue additionally saved an eye fixed on the most recent financial knowledge. US job progress steadied final month whereas the unemployment fee rose — a combined snapshot of the labor market. Nonfarm payrolls elevated 151,000 in February after a downward revision to the prior month. The unemployment fee climbed to 4.1%.
“We’re not placing a lot inventory within the jobs report in the intervening time,” mentioned Byron Anderson at Laffer Tengler Investments. “In the present day’s knowledge was combined at finest, however we nonetheless don’t have any readability on the economic system transferring ahead. Markets, companies, and shoppers don’t like uncertainty and meaning elevated volatility.”
A few of the primary strikes in markets:
Shares
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The S&P 500 rose 0.6% as of 4 p.m. New York time
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The Nasdaq 100 rose 0.7%
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The Dow Jones Industrial Common rose 0.5%
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The MSCI World Index rose 0.2%
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Bloomberg Magnificent 7 Complete Return Index rose 0.2%
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The Russell 2000 Index rose 0.4%
Currencies
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The Bloomberg Greenback Spot Index fell 0.2%
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The euro rose 0.6% to $1.0851
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The British pound rose 0.4% to $1.2929
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The Japanese yen was little modified at 147.89 per greenback
