DAVENPORT, Iowa — "Stocks were mostly higher Friday, keeping the market on track for its biggest weekly gain since April," according to The Associated Press.
"The S&P 500 index was up 0.3% , the Dow Jones Industrial Average was up 0.7% and the Nasdaq Composite was up 0.1%. All three indexes are up 2.5% or more this week alone," they say.
Financial Advisor Mark Grywacheski explained why prices were back up to start the morning Monday, June 28th. By Friday, June 25th, the stock market had rebounded after a five day sell-off where the Dow Jones fell almost 1,200 points from the week before. Grywacheski says we have a very strong economy and labor market, but there are a number of concerns like inflation, a poor April and May employment report, plus a severe labor shortage.
"When and to what extent will the Fed Reserve start raising interest rates, and as the financial markets try to digest the latest state of these concerns, it's going to cause big price swings in the stock market," he said.
The 1,189 point sell-off was a 3.4% drop in the stock market in the week that ended Friday, June 18th. Your Money with Mark airs in-between 5 and 5:30 a.m.