The S&P 500 closed at 7,489 and the Nasdaq gained 1%, with the fear gauge dropping to 16. Calm and confident going into a busy week.
The 10-year Treasury yield rose to 4.74%. Higher yields make borrowing costlier and hurt smaller companies — which is why the Russell 2000 slipped while everything else rose.
Tokyo's market jumped over 4% in a single day, far outpacing US and European stocks. Worth watching whether the momentum carries into next week.
Stocks closed the week on solid footing. The S&P 500 rose 0.70% to a record 7,489, the Nasdaq tacked on 1%, and the VIX — Wall Street's fear gauge — fell to a sleepy 16. Japan stole the show, with the Nikkei jumping 4%. Under the calm, though, bond yields crept up. The 10-year Treasury rose to 4.74%, its highest in a while. Money is moving back into tech and out of the small-caps, which slipped.
Watch the bond market. Rising yields mean borrowing is getting more expensive again, and that's a headwind for the small companies in the Russell 2000, which fell 0.50% while everything else rose. Next week is stacked: AMD, Eli Lilly, and a wave of data ending with Friday's jobs report. Gold dropped 1.24%, a sign traders feel less need to hide. If the jobs numbers come in hot, those higher yields could stick — and that's when the party gets tested.
The market bounced back and is now sitting near record highs, but the real test comes next week when giants like AMD and Eli Lilly report earnings. Those results tell you whether the AI and drug-company excitement is backed by actual profits or just hope. If they disappoint, the whole rally could wobble.
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