The week began with the S&P 500 closing 0.28% lower. Not all sectors closed in the red, as the Energy Market outperformed the rest of the sectors under S&P. Crude oil prices rose over 2% after the Saudi energy minister confirmed that OPEC and its allies would continue cuts in oil output.
Moving through the week, the S&P 500 closed higher on Tuesday along with Treasury yields rising. The 10 year note yield broke above 1.7%.
Wednesday saw a gain in all major indices, with the Dow and S&P 500 closing above 27,000 and 3,000 respectively for the first time since the end of July. Apple outperformed the market as the firm released new upgrades for their devices on Tuesday.
Thursday saw the S&P 500 close at 3009, missing it’s all time high by just 0.6%. Stocks rallied on the back of positive developments on the US-China Trade War front as US officials prepare to meet their Chinese counterparts next month.
The Dow ended 0.2% up at 27,182 while the Russell 2000 ended 4.6% up since Monday.