U.S. stocks finished lower on Friday, capping off the worst week for the S&P 500 since early September, as creeping doubts about a December interest-rate cut by the Federal Reserve helped interrupt a postelection rally.
Economic data on inflation and retail sales coupled with comments from senior Fed officials,
» Read more about: Dow ends 300 points lower as rate-cut doubts stall postelection rally »
NEW YORK (AP) — U.S. stocks slipped Thursday as the market’s big burst following Donald Trump’s election continued to cool.
The S&P 500 fell 0.6%, though it’s still near its all-time high set on Monday.
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» Read more about: The stock market's Trump honeymoon is turning sour »
Federal Reserve Chair Jerome Powell just threw cold water on the hope that mortgage rates could drop to 6% by the end of the year. Why? Economic growth is, by official numbers, too strong.
In a talk with business leaders on Thursday, Powell indicated that the pace of interest rate cuts is likely to be slower than anticipated over the near term.
» Read more about: Mortgage Predictions: The Fed Isn't Hurrying to See Lower Rates »
In recent weeks, global markets have experienced notable fluctuations, with U.S. stocks rallying on hopes of growth and tax reforms following the election, while the small-cap Russell 2000 Index led gains despite remaining below its record high. As economic indicators such as a strengthening dollar and Federal Reserve rate cuts shape market sentiment, identifying high-growth tech stocks involves evaluating their potential to thrive amidst regulatory changes and evolving fiscal policies.
» Read more about: High Growth Tech Stocks with Promising Potential »
Hedge funds including Millennium Management, Capula Management and Tudor Investment increased their exposure to U.S. spot bitcoin exchange-traded funds in the third quarter, securities filings showed, as a popular election-driven arbitrage trade ramped up.
President-elect Donald Trump embraced digital assets during his campaign, promising friendly regulation and to accumulate a national stockpile of bitcoin.
» Read more about: Hedge funds increase their exposure to U.S. spot bitcoin ETFs »
Stocks tumbled on Friday as the post-election rally fizzled and investors fretted over the path of interest rates.
The Dow Jones Industrial Average lost 305.87 points, or 0.70%, to end at 43,444.99. The S&P 500 slipped 1.32% and closed at 5,870.62, while the Nasdaq Composite fell 2.24% to 18,680.12.
» Read more about: Post-election stock rally fizzles as interest rate concerns grow »
DJIA Index US Stock Market Today: Dow Jones Industrial Average futures, an early indicator of the US equity benchmark, inched higher minutes before the opening bell on Wall Street on Thursday. At 6:50 pm in India (8:20 am in New York), DJIA futures were trading up 94 points, or 0.2 per cent,
The stock market’s slide continued on Friday, as the S&P 500 and Nasdaq Composite wrapped up their worst weeks since early September.
The Dow Jones Industrial Average fell 306 points, or 0.7%. The S&P 500 slid 1.3%. The Nasdaq Composite dropped 2.2%.
Stocks struggled this week in the face of rising bond yields.
» Read more about: Stocks Slump as S&P 500, Nasdaq Take Week on the Chin »
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