HomeFinancial MarketsU.S. Stocks Post First Weekly Loss in 10

U.S. Stocks Post First Weekly Loss in 10

Stocks on the New York Stock Exchange posted minor gains on Friday, however, this wasn’t enough to prevent the first weekly decline over the past 10 weeks. The benchmark S&P 500 dropped 1.54%, recording its worst weekly performance since late October, while the Dow Jones Industrial Average was down 0.59%. The tech-heavy Nasdaq Composite tanked 3.26%.

Throughout Friday, stocks embarked on a turbulent ride as investors digested the latest Labor Department jobs report, which showed that more workers were hired in December than expected. This lowered expectations of interest rate cuts, thereby pushing equity futures lower.

Although the past week’s influx of economic data has given the Federal Reserve more reason to put off interest rate cuts, it appears as if investors remain optimistic that interest rate cuts will be timeously introduced. Traders have now priced a 66.4% chance of a 25-basis point cut in March, the CME Group’s FedWatch tool has indicated.

Stocks Hold Steady Ahead of Inflation Report

U.S. equities remained largely muted on Tuesday after reaching all-time highs as investors awaited the release of a crucial inflation report. The PCE index,...

Domino’s Pizza Beats Quarterly Estimates Amid Rebound in Demand

Domino's Pizza reported its financial results for the fourth quarter on Monday, beating Wall Street expectations. Same-store sales rose 2.8% over the quarter, beating...

U.S. Homeowners Remain In Homes Longer Than They Did 20 Years Ago

A study by real estate brokerage Redfin found that U.S. homeowners are remaining in their existing homes for longer than they did 20 years...