WEEKLY SUMMARY: Stocks, bonds, & cryptos rally as rate-cut odds rise
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Nasdaq was the week's biggest winner among the US majors equity indices in a week that saw the S&P 500 Index, Dow Jones Industrial Average, and Nasdaq Composite all continue to hit record highs, while the Russell 2000 Index declined after back-to-back weeks of outperformance versus its larger-cap peers. The Russell 1000 growth index outperformed Russell 1000 value by 553bps, the largest margin since March 2023. Sector performance was also widely dispersed as consumer discretionary, communication services, and IT stocks all gained over 3% for the week, while energy, utilities, and materials stocks all fell over 3%. Geopolitical headlines through the first half of the week were largely dominated by French and South Korean politics, though these seemed to have limited impact on U.S. markets.