Highlights

  • 8 week losing streak snapped by US markets
  • Weekly gains only due to rally on Thursday and Friday

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US Markets: S&P 500, Dow log best week since November 2020

The S&P 500 rose 2.5% to 4,158.24 Friday, erasing its loss for May.

 

The latest headline from US markets is that the bulls are back but will they stay? That is the big question even as the bulls celebrate a much needed win for the week with the US markets breaking the streak of losses.

Snapping an 8 week long losing streak, the Dow finished up 6.2%, S&P 500 is 6.5% higher and the Nasdaq is up 6.8% on the week. But these gains have come largely from the rally seen on Thursday and Friday.

The S&P 500 rose 2.5% to 4,158.24 Friday, erasing its loss for May. This rebound comes as after the S&P 500 fell to the brink of a bear market, dropping 20% from recent high.

All eyes remain on Fed's next action in June and the quantum of hikes that follow.

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