NEW YORK — Wall Street limped to a mixed close, marking its third losing week in a row. The S&P 500 barely budged, ending the day down by less than 0.1%. It lost more than 2% for the week, like other U.S. indexes. The Dow edged up 25 points, and the Nasdaq composite slipped 0.2%. August has been rough for the stock market, which has given back close to a third of the S&P 500’s torrid gains for the year’s first seven months.
Stocks were holding a bit steadier Friday after yields eased a bit. After topping 4.30% a day before and nearing its highest level since 2007, the 10-year Treasury yield fell back to 4.25%. In a BofA Global Research report, he pointed specifically to how the trend may follow Microsoft, one of the big seven tech-oriented stocks responsible for the majority of the S&P 500’s gains earlier this year.
Traders had been hoping that the Fed was done hiking rates and would begin cutting them early next year. Inflation has already come down considerably since its peak last summer. Besides making borrowing more expensive for everyone from homebuyers to multinational corporations, higher yields make the stock market look more expensive unless companies suddenly earn much more in profits. And while companies have reported better earnings for the spring than feared, it hasn’t been enough to stop the market’s slide.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock market today: Wall Street rises in early trading, though bond yields remain highNEW YORK (AP) — Stocks are opening slightly higher on Wall Street following some encouraging profit reports from big companies. The S&P 500 was up 0.3% early Thursday, trimming its slump for August.
Source: SooToday - 🏆 8. / 85 Read more »
Stock market today: Wall Street slumps again as higher bond yields keep bitingNEW YORK (AP) — Wall Street fell for a third straight day as rising yields in the bond market keep cranking up the pressure. The S&P 500 lost 0.8% Thursday, with August on track to be its worst month of the year by far.
Source: SooToday - 🏆 8. / 85 Read more »
Stock market today: Global shares decline after Wall Street drops on higher bond yieldsTOKYO (AP) — Global shares mostly slipped Friday as rising yields in the bond market on Wall Street set off expectations that high interest rates would continue in the U.S. France's CAC 40 declined 0.9% in early trading to 7,126.02. Germany's DAX dipped 0.8% to 15,553.22. Britain's FTSE 100 shed 0.8% to 7,255.18. U.S. shares were set to drift lower with Dow futures down 0.1% at 34,503.00. S&P 500 futures fell nearly 0.1% to 4,381.75. Japan’s inflation data showed consumer prices rose 3.1% from a
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market today: Wall Street points lower again, heading for fourth straight lossWall Street declined early Friday, threatening a fourth straight day of losses as higher bond yields put pressure on stocks and raised expectations that interest rates would remain elevated.
Source: CTVNews - 🏆 1. / 99 Read more »
Stock market today: Wall Street drops again in what could be its worst week since MarchNEW YORK (AP) — Wall Street is limping toward the close of what could be its worst week since March. The S&P 500 fell 0.6% in the early going Friday and is on track for a third straight losing week.
Source: SooToday - 🏆 8. / 85 Read more »
Stock futures edge up as yields stay near recent highs: Stock market news todayWall Street looked to rebound from two straight down sessions.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »