Markets Rise, but a 5-Week Win Streak Is History

Stocks had a decent day on Friday, but it wasn't enough to lift the markets into positive territory for the week. The Dow rose 179 points to 36,100, the S&P 500 rose 33 points to 4,682, and the Nasdaq rose 156 points to 15,860. All three indexes registered weekly losses of less than 1%, and the blame goes to a report earlier in the week showing inflation to be at a 30-year high, reports CNBC. As a result, the market's five-week winning streak has been snapped. The Wall Street Journal notes, however, that investors seemed to regain confidence as the week went on.

“We do believe that there’s still a fair amount of gas in the tank economically,” Giorgio Caputo of J O Hambro Capital Management tells the newspaper. One thing to watch next week: Earnings reports from retailers such as Walmart and Target, which could provide a better sense of how badly the global supply-chain crunch is affecting business. “We’re starting to see maybe peak concern in the supply chain," Victoria Fernandez, chief market strategist of Crossmark Global Investments, tells CNBC.