U.S. stocks gave ground as stronger-than-expected job creation, and Fed Chair Powell’s comments on the outlook for interest rates unsettled investors.
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Sam Subramanian PhD, MBA, Editor, AlphaProfit MoneyMatters
Fidelity funds focusing on natural resources including energy and agricultural commodities, defense & aerospace, and insurance were top performers in October.
Despite disappointing third-quarter earnings from large-cap information technology companies, the S&P 500 gained 3.9% last week as bond yields fell.
Better-than-expected earnings reports and hopes that the Fed could slow the pace of interest rate increases helped the S&P 500’s 4.7% gain last week.
U.S. stocks charted a volatile course for the week due to inflation concerns. The S&P 500 closed the week below its flatline, while the DJIA finished above.
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