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Worlds Apart? Investing in an Era of Divergence
Stocks were generally higher last week, with the Dow Jones Industrial Average rising 1.72% to close the week at 17,279, the S&P 500 Index climbing 1.26% to 2,010 and the Nasdaq Composite Index inching up 0.26% to 4,579. However, the Russell 2000 Index, which tracks small-cap U.S. stocks, fell 2.17%. Meanwhile, the yield on the 10-year Treasury slipped from 2.61% to 2.58%, as its price correspondingly rose. On balance, the economic and monetary environment remains supportive of stocks, but not every country or every sector is feeling the good vibrations. We continue to see significant differences among countries, as ... (full story)