WEEKLY BUSINESS ROUNDUP
The state of Financial markets & Economies, Weekly Charts, Business Trends & Statistics
Financial markets went on a roller-coaster ride on Thursday as traders monitored the latest happenings in Ukraine. Buy the dip market maxim has been in play since the COVID pandemic started when a steep selloff was followed by an unprecedented amount of buying that sent indices to continuous record highs. Since then, investors have been on the hunt for bargains, or so-called oversold conditions, while algo trading has magnified the sentiment and contributed to big reversals. WTI crude oil surged to more than $100 a barrel for the first time since 2014, before dropping back to trade near the $90 level.
U.S. equity markets surged, rising for a second straight day Friday, after this week’s sell-off following Russia’s invasion of Ukraine. For the Dow, it was the biggest single-day advance since November 2020. The S&P 500 closed the week with a 0.8% gain after falling as much as 5.5%, the Nasdaq Composite increased 1.1% after plunging as much as 7%, the Dow Jones nearly broke even after losing 5.3% midweek. The shock and uncertainty of war in Europe could discourage the Federal Reserve from being…