Autodesk eagle5/29/2023 ![]() ![]() The S&P 500 was up 0.3% for the week, ending at 4,697. Stocks were mixed for the week, with the Dow down 1.4% and the Nasdaq up 1.2%, lifted by tech stock gains. Stocks reacted negatively to the Austrian news Friday, though the tech-heavy Nasdaq gained. Due to a high rate of new cases, the government of Austria announced a three-week lockdown and a vaccine mandate. Stovall also said the market could become concerned again about the spread of Covid in Europe and beyond. But by early November, the S&P 500 was up more than 9% from its low, and was overbought, he said. The S&P 500 gains on average 7.2% between its October low and the end of the year. But Stovall said the market may take a pause before it moves higher, and he expects a choppy period.
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