US stocks were mixed on Friday as investors continued to calibrate to the Federal Reserve's first rate hike in three years and existential fears about artificial intelligence's capabilities.
The tech-heavy Nasdaq Composite (^IXIC) rose 0.4% but ended the week in green. Meanwhile, the S&P 500 (^GSPC) rose 0.2% but eked out a loss for the week. The Dow Jones Industrial Average (^DJI) was down 0.2% and lost more than 1.5% for the week.
The 10-year Treasury yield (^TNX) rose 5 basis points to hover near the 5% level as traders increased bets that the Fed will raise rates again in October.
Markets appeared to look past the Fed's 25 basis point rate hike this week, which was widely expected. US stock continued to climb after the Bank of ***** an raised interest rates to the highest level in 31 years.
However, ***** ysts and top CEOs aren't convinced that one rate hike (by the Fed) will be enough to bring down stubbornly high inflation. "It's not clear to me we've slayed inflation," JPMorgan Chase CEO Jamie Dimon told Yahoo Finance this week.
#week #years #down #level
The tech-heavy Nasdaq Composite (^IXIC) rose 0.4% but ended the week in green. Meanwhile, the S&P 500 (^GSPC) rose 0.2% but eked out a loss for the week. The Dow Jones Industrial Average (^DJI) was down 0.2% and lost more than 1.5% for the week.
The 10-year Treasury yield (^TNX) rose 5 basis points to hover near the 5% level as traders increased bets that the Fed will raise rates again in October.
Markets appeared to look past the Fed's 25 basis point rate hike this week, which was widely expected. US stock continued to climb after the Bank of ***** an raised interest rates to the highest level in 31 years.
However, ***** ysts and top CEOs aren't convinced that one rate hike (by the Fed) will be enough to bring down stubbornly high inflation. "It's not clear to me we've slayed inflation," JPMorgan Chase CEO Jamie Dimon told Yahoo Finance this week.
#week #years #down #level
2 days ago
