HomeIndustriesOil and Stocks Slide, Dollar and Bonds Rise Ahead of Fed Gathering

Oil and Stocks Slide, Dollar and Bonds Rise Ahead of Fed Gathering

U.S. stocks slid lower to bring an end to what was a mixed week while bonds stabilized as investors await the Federal Reserve’s annual gathering in Jackson Hole, Wyoming to get further guidance on the central bank’s interest rate policy going forward. Fed Chair Jerome Powell is slated to speak on Friday.

The S&P 500 index fell 0.01% and the Nasdaq Composite declined by 0.2% while the Dow Jones Industrial Average ended the week higher by 0.08%. The 10-year U.S. Treasury note fell slightly to 4.255% after hurtling toward a 16-year high earlier in the week. Investors now expect the Fed to hold interest rates higher for longer.

Oil prices rose on Friday yet continued to post a weekly decline, bringing an end to a seven-week winning streak. U.S. crude rose 1.13% to $81.30 per barrel while Brent crude gained 0.77% to $84.85 per barrel. Despite the 0.16% decline of the dollar index on Friday, the dollar remains on course for its fifth straight weekly rise.

Warren Buffett to Step Down as Berkshire Hathaway CEO at the End of 2025

Warren Buffett is ready to step down as the CEO of multinational conglomerate Berkshire Hathaway. Buffet announced his decision while speaking at the company’s...

Microsoft Stock Soars on Better-Than-Expected Q3 Earnings

Microsoft reported better-than-expected third-quarter earnings on Wednesday, which caused the company's stock to soar by more than 8% in after-hours trading. Microsoft reported $3.46 in...

Gold Continues to Drop From Record Highs, Dollar Ends Its Slide

After reaching fresh record highs at the beginning of last week, gold has been in the midst of a continuous drop. Meanwhile, the U.S....