Market Snapshot: What the stock market’s most crucial week of the year tells us about the road ahead

Stock-market investors navigated, virtually unscathed, a gauntlet of central-bank gatherings, a historic summit between President Donald Trump and North Korean Kim Jong Un, and flaring trade tensions.

The S&P 500 index SPX, -0.10%ended the week essentially flat, managing the narrowest of weekly gains, up 0.02% to 2,779.66, while the Dow Jones Industrial Average DJIA, -0.34% posted a weekly decline of 0.9%. The Nasdaq Composite Index COMP, -0.19% outperformed both, rising 1.3% for the five-day period.

Not too shabby, considering that the Federal Reserve on Wednesday lifted rates for a second time in 2018, signaling, perhaps, two more increases to key interest rates remaining in the year, while the European Central Bank on Thursday submitted a road map for unraveling its crisis-era, multitrillion-euro bond-buying initiative, though at a less aggressive clip than markets had anticipated.

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