Difficult Start for U.S. Stocks in the First Week of 2024

U.S. stock indices experienced a volatile session but ultimately closed slightly higher as investors absorbed the latest macroeconomic data, which offered conflicting views on the potential timing for interest rate cuts. In terms of weekly performance, the S&P 500 and NASDAQ Composite indices ended the first week of 2024 with notable negative results, as the S&P 500 recorded its worst weekly performance since late October, while NASDAQ faced its worst week since late September. The S&P 500 rose by 8.37 points, or 0.18%, closing at 4697.05 points. The NASDAQ Composite increased by 11.47 points, or 0.09%, to 14521.77 points. The Dow Jones Industrial Average rose by 24.09 points, or 0.07%, closing at 37464.43 points.