NEW YORK — Wall Street’s ugly week is getting a bit of a reprieve, and stocks are holding steadier on Friday, but it’s still heading for its worst week in six months.
Yields were easing a bit Friday, which reduced the pressure on the stock market. The yield on the 10-year Treasury slipped to 4.48% from 4.50% late Thursday. It’s still near its highest level since 2007. Recently, that’s meant pain for technology stocks. Nvidia trimmed its loss for the week to 5.4% after rising 1.2% Friday. The Nasdaq composite, which is full of tech and other high-growth stocks, is on track for its worst week since March.
Hanging above them all is the realization sinking in on Wall Street that interest rates may be staying higher for longer. The Fed indicated Wednesday that it may raise its main interest rate one more time this year. From there, the most likely path predicted now would be half a percentage point of cuts from a level of 5.50% to 5.75%. Three months ago, Fed officials were thinking a full percentage point of cuts may be the likeliest outcome.
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:
United States United States Latest News, United States United States 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 stays mixed, bond yields spike after Fed updates rate outlookNEW YORK (AP) — Stocks was mixed and Treasury yields snapped higher after the Federal Reserve pulled back on its estimates of how much it expected to cut interest rates next year.
Source: SooToday - 🏆 8. / 85 Read more »
Stock market today: Wall Street stays mixed, bond yields rise after FedNEW YORK (AP) — U.S. stocks are mixed Wednesday after the Federal Reserve said it may not cut interest rates next year by as much as it earlier thought, regardless of how much Wall Street wants it. The S&P 500 was 0.
Source: SooToday - 🏆 8. / 85 Read more »
Stock market today: Wall Street slumps after Fed warns rates may stay higher through 2024NEW YORK (AP) — U.S. stocks slumped after the Federal Reserve said it may not cut interest rates next year by as much as it earlier thought, regardless of how much Wall Street wants it. The S&P 500 fell 0.9% Wednesday.
Source: SooToday - 🏆 8. / 85 Read more »
Stocks retreat as Wall Street braces for 'higher for longer' rates: Stock market news todayUS stocks were poised to continue their retreat on Thursday as investors worried over the Fed's hawkish stance.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market today: Asian shares mixed after interest rates-driven sell-off on Wall StreetAsian shares were mixed on Friday after another slump on Wall Street driven by expectations that U.S. interest rates will stay high well into next year. Hong Kong and Shanghai advanced while Tokyo, Seoul and Sydney declined. U.S. futures edged higher and oil prices rose. Japan’s central bank kept its benchmark interest rate at minus 0.1%, as expected, but pledged flexibility in its policies. “Japan's economy is likely to continue recovering moderately for the time being, supported by factors suc
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock losses deepen as Wall Street braces for 'higher for longer' interest rates: Stock market news todayUS stocks continued their retreat on Thursday as investors worried over the Fed's hawkish stance.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »