Stocks are holding relatively steady at the tail end of a wild, whipsaw week for Wall Street

NEW YORK — U.S. stocks are holding relatively steady at the tail end of a wild, whipsaw week for Wall Street. The S&P 500 edged up 0.1% in early trading Friday, coming off its best day since 2022. After yo-yoing through several sharp swings, it’s on track to close a fourth straight losing week. That would be its longest such streak in almost a year. The Dow Jones Industrial Average was down 93 points, and the Nasdaq composite was 0.1% higher.

Online travel booker Expedia jumped 8.3% in premarket after it reported second-quarter sales and profit that beat Wall Street's targets, despite warning of softening travel demand. The Hang Seng in Hong Kong added 1.2% to 17,090.23, while the Shanghai Composite index edged down 0.3% to 2,862.19. Elsewhere, Taiwan’s Taiex picked up 2.9%, with chip maker Taiwan Semiconductor Manufacturing Co. gaining 4.2%, tracking Big Tech stocks' rally on Wall Street. The SET in Bangkok was up 0.2%.

One week ago today, weaker-than-expected employment data from the U.S. raised concerns about a slowing economy where the Federal Reserve has kept the high interest rates that aim to stifle inflation for too long. That triggered a sell-off in global markets, with the scale of the declines amplified as investors unwound their yen carry trade positions.

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