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In commodities, Crude Oil continued to climb higher, back toward the trailing 12-month high. The price per barrel of WTI Crude Oil Futures closed the week at $90.77. This continued rise in oil prices worried some market analysts as energy prices are a significant component of the Consumer Price Index.

At the sector level, only two segments managed to close higher last week. These were Energy and Utilities. These two somewhat related sectors were fueled by gains in Crude Oil as the GSCI Crude Oil Index rose another 2.4 percent for the week.

The Major Markets closed higher across the board last week. The Nasdaq expanded the year-to-date gains another three and a quarter percent which took the performance to over 30 percent for the year. Furthermore, this marked the 8th consecutive week of gains for the tech index and the highest weekly gains since the end of the first quarter.
And while the FOMC voted to keep the current interest rates steady, they left the door open for future increases later this year.

The Major Markets closed higher across the board last week. For the S&P 500, the big news was that it crossed over the 4,300 level after flirting with the threshold the last couple weeks. Moreover, the cumulative gains since the Q4 lows exceeded 20 percent, effectively taking the Blue-Chip index back into bull market territory.

Mixed market results marked the end of the first half of 2024. NASDAQ and MSCI World Index closed positively, contrasting with declines in the S&P 500, Dow Jones, and Emerging Markets.