Traders work on the floor of the New York Stock Exchange (NYSE) in New York, US, on Monday, June 27, 2022.
Michael Nagle | Bloomberg | Getty Images
The major averages were mixed this week with the Dow closing down slightly, the S&P 500 eking out another gain and the Nasdaq closing higher as it worked to regain more ground as the most beat up of the major averages this year. While expectations have recently been for the Federal Reserve to pull back on its aggressive pace of rate hikes, Friday’s better-than-expected jobs report threw a bit of a wrench into the narrative. Bond yields rose on worries that the Fed would be more aggressive in fighting inflation.