January 30th 2022 |
Market Review |
All three major U.S. averages eked out weekly gains after a wild roller-coaster week that saw them experiencing outsized swings each day the week. After dropping to new intra-day lows on Monday and to fresh closing lows on Wednesday, the gains on Friday helped major indexes to close in positive territory for the week. The Dow Jones Industrial Average succeeded to gain 1.3% for the week to close at 34,725.47. The S&P 500 managed to eke out a weekly gain of 0.8% to finish at 4,431.85. The Nasdaq advanced less than 0.1% for the week to end at 13,770.57. Among the key S&P sectors, energy was the best weekly performer, while the industrial sector dragged the most. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 27.7.