U.S. stocks were mixed over the week as geopolitical uncertainty continued to weigh on the markets. The S&P 500 gained 0.8% and the Dow was down 0.1%. Foreign markets declined with the FTSE All World Ex US down 3% for the week. The 10-year Treasury yield ticked higher ending the week at 1.97% up from 1.93% the week prior.
Russia invaded Ukraine and in response the U.S. and its allies’ implemented sanctions that limited Russian banking institutions and halted the Nord Stream 2 natural-gas pipeline.
Oil surged above $100 a barrel for the first time since 2014 on worries of supply chain disruptions caused by the conflict in Ukraine.
U.S. consumer spending rose, on a seasonally adjusted basis, by 2.1% in January up from a 0.8% decline in December.
The PCE inflation rate, the rate the Fed uses to gauge inflation, rose to 5.2% in January up from 4.9% in December.
U.S home prices surged 18.8% in 2021, as low mortgage rates created fierce competition for a limited supply of homes for sale.