HomeTop Global NewsStocks Slip Lower on Friday for Second Straight Losing Week

Stocks Slip Lower on Friday for Second Straight Losing Week

Stocks wrapped up the weak lower on Friday, thereby marking a second consecutive losing week. This comes as investors digest the latest inflation data that has come in hotter as the Federal Reserve is set to make its latest interest rate decision next week.

The benchmark S&P 500 slumped 0.7% while the tech-heavy Nasdaq Composite plummeted by 1%. The Dow Jones Industrial Average fell 0.5%. Both the S&P 500 and the Nasdaq Composite clocked in their second consecutive weekly loss.

Friday’s declines follow a stock slump during the previous session following an unexpectedly hot Consumer Price Index (CPI) report for February. Investors have since shifted focus to the Personal Consumption Expenditures (PCE) report set to be released later this week.

UPS Stocks Tank Amid Disappointing Earnings

Shares in United Parcel Serice (UPS) slumped by 13% during midday trading on Tuesday after the company reported lower-than-expected second-quarter financial results. Adjusted profit...

Wiz Rejects $23 Billion Acquisition Bid From Google

Wiz has rejected a $23 billion acquisition offer by Google parent company Alphabet Inc. "Saying no to such humbling offers is tough," Wiz CEO...

S&P 500 Rally Stalls Ahead of Earnings Season

U.S. stocks showed little movement on Tuesday as traders began to reflect on corporate financial results as earnings season gets underway. Investors are anxiously...