US Markets Round-Up
This week, the Russell 3000 index, an important benchmark of the US stock market across market capitalizations, started on a negative note; however, it traded positively in the later part of the week. The index made a high of ~2441.80 during the week and settled at 2432.31 with a week-to-date (WTD) gain of ~2.98 percent on February 02, 2023. Other major indices, such as S&P 500 and NASDAQ Composite witnessed positive movement for the week. On February 02, 2023, the S&P 500 index settled at 4179.75 with a WTD gain of ~2.68 percent, while the NASDAQ Composite Index settled at 12200.818 with a WTD gain of ~4.98 percent.
Market sentiments remained bullish due to the release of positive economic data during the week, such as Job Openings and Labor Turnover Survey, Unemployment Insurance Weekly Claims, etc. Notably, as per the latest Fed meeting, the FOMC increased the benchmark rate by 25 basis points to 4.75%.
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