Wall Street Breakfast: What Moved Markets This Week

Starting this week, a podcast of "Wall Street Breakfast: What Moved Markets" will be available by 10:00 a.m. every Saturday on Seeking Alpha, iTunes, Stitcher and Spotify (click the highlighted links).

Stocks edged marginally lower Friday but locked in hefty weekly gains, as investors barely blinked at the news that Pres. Trump called off a retaliatory military strike on Iran overnight just 10 minutes before its planned start. The Dow, which briefly surpassed its record closing high set last October, rose 2.4% for the week, while the S&P 500, which set a new intraday high before pulling back, finished the week 2.2% higher; with this week's gains, the S&P has climbed 17.7% so far this year and is on track to post its best first half since 1997. U.S. Treasury prices backed off from their best levels of the year, driving the two-year yield up 6 bps to 1.78% and the 10-year yield 7 bps higher to 2.07%.

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