Free Trial

US Stocks Clock Gains of 27% on the Year

EQUITIES
  • While Wall Street edged lower Friday, US equity markets clocked a significant gain on the year, rising over 25% over the past twelve months. Both the S&P 500 and Dow Jones Industrial Average printed a fresh alltime high this week, with Friday trade seeing prices consolidate just below.
  • Communication services and tech names led the decline, countering strength across real estate and the defensive healthcare sector.
  • Although trade was thin Friday, Pfizer topped the index as the UK health authority formally approved the Paxlovid COVID-19 therapy, adding to the company's suite of products aimed at hastening the end of the virus pandemic.
  • European trade was more mixed, with the FTSE-100 and CAC-40 shedding around 0.3% into the close, while Germany's DAX and Spain's IBEX-35 managed to notch up gains into the early close.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.