Market Briefings

The major stock market indices surged to record highs last week, having eclipsed the previous high in January 2022 on the back of a new bull market that has delivered a 45% return since October 2022.

Last week, stocks were modestly lower, and Treasury bond yields were higher as the U.S. Consumer Price Index (CPI) and Producer Price Index (PPI) inflation reports for January came in hotter than expected.

Last week, the S&P 500 crossed the 5,000 milestone, a new record high for the index, widely regarded as the primary gauge for U.S. large-cap stocks.

Stocks have rallied sharply of late, with the S&P 500 gaining 20% in the last three months.

Last week, stocks experienced another week of gains, bringing the Dow Jones Industrial Average and the S&P 500 Index to new all-time highs and marking the 12th weekly advance out of the last 13 for the latter.