Markets Rise, but a 5-Week Win Streak Is History

Report about high inflation led to weekly losses
By Newser Editors,  Newser Staff
Posted Nov 12, 2021 3:15 PM CST
Markets Rise, but a 5-Week Win Streak Is History
A trader works on the floor of the New York Stock Exchange in this October file photo.   (AP Photo/Richard Drew, File)

Stocks had a decent day on Friday, but it wasn't enough to lift the markets into positive territory for the week. The Dow rose 179 points to 36,100, the S&P 500 rose 33 points to 4,682, and the Nasdaq rose 156 points to 15,860. All three indexes registered weekly losses of less than 1%, and the blame goes to a report earlier in the week showing inflation to be at a 30-year high, reports CNBC. As a result, the market's five-week winning streak has been snapped. The Wall Street Journal notes, however, that investors seemed to regain confidence as the week went on.

“We do believe that there’s still a fair amount of gas in the tank economically,” Giorgio Caputo of J O Hambro Capital Management tells the newspaper. One thing to watch next week: Earnings reports from retailers such as Walmart and Target, which could provide a better sense of how badly the global supply-chain crunch is affecting business. “We’re starting to see maybe peak concern in the supply chain," Victoria Fernandez, chief market strategist of Crossmark Global Investments, tells CNBC. (Read more stock market stories.)

We use cookies. By Clicking "OK" or any content on this site, you agree to allow cookies to be placed. Read more in our privacy policy.
Get the news faster.
Tap to install our app.
X
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.

X