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WEEKLY SUMMARY : AI investment concerns and rising oil prices drive volatility across markets
Major U.S. stock indexes closed the week mixed as concerns about AI-related spending and financing weighed on large-cap technology shares, while small-cap and value-oriented stocks outperformed amid a rotation in market leadership. The small-cap Russell 2000 Index led the major benchmarks, advancing 2.00%, followed by the Dow Jones Industrial Average, which gained 0.41%. Conversely, the Nasdaq Composite and S&P 500 Index shed 0.71% and 0.47%, respectively. In the large-cap universe, value stocks outpaced growth for the third consecutive week. Oil prices moved higher late in the week amid reports of renewed tensions in the Middle East, reversing earlier declines tied to optimism surrounding U.S.-Iran diplomatic discussions. AI-related stocks experienced another volatile week as investors weighed some generally positive indications of demand against concerns about the scale and financing of capital expenditures. On the macro side, US housing market weakened amid elevated mortgage rates. Business activity growth remains robust despite accelerating inflation pressures. US Treasuries rallied as technology weakness and geopolitical concerns support demand. The US 10-year yield dropped below 5%. The dollar slipped for a second week as gold dropped, finding support at $4k. The STOXX Europe 600 Index ended the week down 1.39&, as OAT-Bund spread keeps widening. Chinese equities keep declining.
Have a great weekend
Charles & Syz Research Lab
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