Yahoo Finance's Jared Blikre breaks down how markets ended the trading week.
JARED BLIKRE: All right, let's take a look at the market right here. And guess what? This was a down day. But as we've been saying, this was a down day in an up week. And there is the five-day price action, the Dow up 2% for the week, the S&P 500 up a little bit more, 2 and 1/2%, and the NASDAQ finishing as the leader of the week, up about 3%. It was up about 5% as of yesterday.
Now, let's take a look at the bond market real quickly. This is a two-month chart of the 10-year T-note yield. And you can see, wow, these are some big candles. That was Thursday and Friday. But guess what? Lower yields tend to help those growth stocks that are so underwater right now.
Also got to check in on the US Dollar Index. This is kind of a flat day, it looks like. And for the week, we are down just a little bit, but thankfully, we are off of those highs because a strong US dollar sounds good, but sometimes it can put a lot of pressure on these multinational corporations that we track, as well as all kinds of asset classes-- commodities, crypto, even.
Well, here is the NASDAQ 100 over five days. So I thought we'd check out who the big leaders were. And Netflix is a big one. They announced results earlier this week. Better than feared. Let's just take a look at Netflix stock real quickly, see if we can get that up. Well, it doesn't seem to want to-- well, how about Peloton? There we go. I guess we're going to take a look at Peloton as well. This is the stock. Look at this one-year chart. It is down 91%.
Let's take a look at the five-day price action. You can see up 15%. But in the big picture, still quite underwater there. To the downside, we have Vertex Pharmaceuticals. That's down 4%. BIIB is down 5%. And it looks like T-Mobile, that's down 3 and 1/2%. I want to get a check on the crypto space. This is only since Monday, so maybe not a true week for crypto. But we can see Bitcoin adding to gains here.
Let's take a look at what's happened with Bitcoin this week. You can see it's up 9% now. If we take a year to date look, put some candlestick charts, we can see we are still just off these lows right now. We were able to break through this high right here. So it's constructively bullish in the very short term. But we've seen this movie before. This was a false breakout leading to a false breakdown. And just to review here, $20,000 is a huge level. Five years back, 2019-- or 2017, guess what? 20,000 was the high. That needs to hold.