What happened in the markets last week
Tech stocks (minus SpaceX) and energy stocks rose, but rising oil prices are taking a toll. Bitcoin and gold are still languishing.
The S&P and the Nasdaq rose. The Dow and the Russell 2000 fell. The first two indexes were buoyed by strong performance in the tech and energy sectors, while rising oil prices and Treasury yields weighed on the latter two. The top-performing sector last week was energy; we have a list of the best-performing energy ETFs here.
SpaceX hit an all-time low closing price. Getting added to the Nasdaq 100 last week didn’t help the stock price of the rocket and AI giant, which fell to $145.30 — just $10 and some change above its IPO price of $135.
Bitcoin and gold treaded water. Bitcoin both started and ended the week in the $63,000s while an ounce of gold both started and ended the week in the $4,100s.