"SP500 Soars as Dovish Fed and Strong Jobs Report Propel Markets to Best Week of 2023"
The S&P 500 index had its best week of the year, surging 5.85%, driven by a dovish Federal Reserve, declining Treasury yields, and a "Goldilocks" non-farm payrolls report. The tech-heavy Nasdaq Composite and the blue-chip Dow also saw significant gains for the week. All 11 S&P sectors ended in positive territory, except for Energy. The jobs report, which showed an increase of 150K jobs in October and a slight uptick in unemployment, contributed to positive sentiment. Meanwhile, Apple's disappointing holiday quarter guidance weighed on the market, while Expedia and Paramount were among the top gainers, and Fortinet experienced losses due to a weak outlook.