April 08, 2024

Worst Week of the Year for the Dow

Latest Publications Worst Week of the Year for the Dow

Labor Market Strength Continues

Despite a solid gain on Friday, all three major U.S. equity indices ended negative last week. Forward momentum waned as investors wavered between desires for a stronger economy to support corporate earnings growth and being sensitive to interest rate cut expectations. Wage growth continues to be stubbornly higher as strong March payrolls data showed average hourly earnings accelerated slightly month-over-month. Another big theme was the notable increase in Treasury yields driven by overall firmer economic data.

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The Weekly Recap is published by Cetera Investment Management LLC, an SEC registered adviser owned by Cetera Financial Group. Cetera Investment Management provides market perspectives, portfolio guidance, model management, and other investment advice to its affiliated broker-dealers, dually registered broker-dealers and registered investment advisers.