The major market indexes finished higher last week. The Dow Jones Industrial Average gained 4.9%, the S&P 500 Index rose 4.7%, the NASDAQ Composite climbed 5.2%, and the Russell 2000 small-capitalization index picked up 3.5%. The 10-year Treasury bond yield rose 20 basis points to 4.222%, sending bond prices lower for the week. Gold futures closed at $1,656.30, up $7.40 per ounce, or 0.45%.

Inflation continued to be the major factor affecting markets in the third quarter. The second quarter saw the largest interest-rate increases in recent memory. The third quarter saw the continuation of those increases.

The major U.S. stock market indexes rose slightly last week after experiencing significant declines. The Russell 2000 was the best performer, rising 2.25%. The NASDAQ Composite was the worst performer, increasing by 0.73%. The S&P 500 gained 1.51% as the market found some relief from heavy selling. The 10-year Treasury bond yield rose 5 basis points to 3.88%, continuing a run-up that began on August 1. Spot gold closed the week at $1,694.82, up 2.06%.