Stock Market Today: Dow extend losing streak as rising geopolitical tensions bite

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Stock Market Today: Dow extend losing streak as rising geopolitical tensions bite

Investing.com-- The Dow sank to a fourth-straight daily loss Thursday, after giving up intraday gains on rising geopolitical tensions and hawkish remarks from Federal Reserve officials just ahead of the crucial monthly jobs report due Friday.Geopolitical tensions ratcheted up amid fears skirmishes between Israel and Iran are set to escalate. Israeli Prime Minister Benjamin Netanyahu vowed to operate against Iran and its proxies in the face of imminent threat expected from Iran.

The Fed has the luxury of waiting to cut rates as inflation data since the turn of the year "has been a little less encouraging," Richmond Fed President Thomas Barkin said Thursday. Claims had bounced around between 212,000 and 210,000 for much of March, and this rise suggested that labor market conditions were weakening.Jefferies lifted its price target on Meta to $585 from $550, on optimism that the social media company could capture about 50% of incremental industry ad dollars in 2024, with ad revenue potentially growing at 20%, supported by generative artificial intelligence.

 

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