Week 34: Bond Yields Steal the Show as Markets Pull Back
Rising long-term Treasury yields, a Walmart-shaped consumer warning, and surging Bitcoin combined for a volatile week, but the combined portfolio again beat a falling market. →
Week 32: Three Headwinds Ease: Markets Break to New Highs
AI earnings credibility, falling oil prices and a soft jobs report that took rate hikes off the table combined to propel the S&P 500 to record highs: its best weekly gain since April.
Weekly Summary
Week 32 (3–7 August) was the week markets had been waiting for. Three concerns that had kept equities range-bound for most of the summer (doubts about the sustainability of AI spending, elevated oil prices driven by Middle East tensions, and the risk of further Federal Reserve tightening) all eased simultaneously. The result was a decisive breakout: the S&P 500 gained 3.6% on the week, its best weekly performance since April, and closed at a new all-time high of 7,757.64. The Nasdaq surged 5.2%, led by a sharp recovery in semiconductor stocks, while the Dow Jones added nearly 3%.
For the Rivativ model portfolios, it was the strongest week YTD. The combined portfolio gained +$11,417.74 (+2.82%) impressive in absolute terms, and a strong result in the context of a week where the S&P 500 itself was up 3.58%. Three of four portfolios essentially matched or outperformed the index outright; the fourth had a difficult week against the sharp directional rally.
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