The Dow Jones (^DJI) and S&P 500 (^GSPC) finished the week positive while Tokyo’s Nikkei 225 (^N225) hit a 34-year peak. Tech shares rebounded but energy names dropped on geopolitical worries. Yahoo Finance’s Jared Blikre breaks down what moved stocks this week.
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Editor’s note: This article was written by Angel Smith.
Video Transcript
JARED BLIKRE: Welcome back to Yahoo Finance. We are looking back at the week that was for the markets. And this is a photo finish we had today. But let me show you another one. Here’s the Russell 2000 for the week. Looks like it’s going to end up down about 14 basis points. But the S&P 500 in the green for about 8/10 of, well, this is actually one day’s price action. Let’s make the five day. 1.84%, and the Dow just barely in the green here.
But I want to focus on Tokyo. Over in Japan, the Nikkei it’s taken about 34, 35 years to get to 35,000. Last time they saw this price in the late 1980s, 89 that was a different era. They went through an incredible bubble and burst. Not dissimilar with what we saw 10 years later with the tech trade here. But nevertheless, they’re getting back up there. Not a new high just yet. So let’s take a look at the sector action for the week.
And if you thought it was last year, you’d be forgiven because guess what, tech is number one. That tacked on another 4.4%, followed by communication services, that houses Alpha and Meta, as well. Those were the two outperformers. Staples, healthcare, discretionary, real estate, and industrials, also in the green. To the downside, energy. Not a lot of love for energy, despite rising tensions around the Red Sea, that was down 2.4%. And utilities, one of last week’s winners is one of this week’s biggest losers.
And the defensive structure that we saw last week, well, maybe that was just because it was for illiquid first days of the year. Nevertheless, here’s another look at the mega cap. Inside the NASDAQ 100, look at this, NVIDIA just really popped to the upside. Another 11.4% to its total. Amazon up 6.5%. Meta right there with it. Alphabet 5%. And the software industry looking really strong this year, and also the semiconductor. We look at NVIDIA but also some big gains from AMD there, Josh.
