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    Mixed Day for U.S. Stocks as Fed Hints at More Rate Hikes

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    U.S. stocks finished mixed Friday as investors weighed hawkish comments from Federal Reserve officials about the potential for additional rate hikes to keep inflation in check.[0] The S&P 500 (^GSPC) dropped 0.25%, the Dow Jones Industrial Average (^DJI) fell 0.23%, or 9 points, and the Nasdaq Composite (^IXIC) declined by 0.5%.[1]

    In single-stock news, DraftKings (NASDAQ:DKNG) shares jumped 16.6% after the gambling company reported a smaller-than-expected loss in the quarter and raised its outlook for 2023.[2] Deere & Company (DE) also climbed after the agricultural machinery giant beat expectations, with $11.4 billion in equipment sales, and earnings of $6.55 a share.[3] Projections for the company's net income in 2023 range from $8.75 billion to $9.25 billion.[4]

    DoorDash (NYSE:DASH) shares dipped 7.7% after the company reported a 40% revenue jump to $1.8 billion compared to the prior year.[5] Orders totaled 467 million, a rise of 27% from the preceding year.[4] The delivery service corporation declared a stock repurchase plan and forecasted a positive outlook for the present quarter.[4]

    Roku (ROKU) stock rose 11.2% after the streaming company reported a slimmer-than-expected fourth-quarter loss of $1.70 per share on higher-than-anticipated revenue of $867 million.[6] The firm indicated that active users and streaming hours had increased from the prior quarter.[7]

    ADI (Analog Devices) surged by 7.5% with high trading volume following the announcement of results above expectation in its fiscal Q1 revenue and profit.[6] The stock of the semiconductor company surged past the 5% buy threshold of a cup base, which had a 180.05 buy point.[8]

    Meanwhile, the yield on the benchmark 10-year U.S. Treasury note rose to 3.867% Thursday midday.[9] The US dollar index rose slightly, amounting to a 0.09% increase, and was valued at $104[10] The price of WTI crude oil dropped to $78.03 per barrel, resulting in a decrease in energy trading.[11]

    At a speech in Tennessee on Friday morning, Federal Governor Michelle Bowman voiced her apprehension that inflation has not decreased at a fast enough rate, thus necessitating the Federal Reserve to continue to raise interest rates.[2]

    0. “Nasdaq, S&P, Dow on track to end mixed, but well off their session lows” Seeking Alpha, 17 Feb. 2023, https://seekingalpha.com/news/3937764-nasdaq-sp500-dow-jones-stock-market-fed-rate-hikes-earnings

    1. “S&P 500 off lows but remains under pressure as rate-hike fears dent tech By Investing.com” Investing.com, 17 Feb. 2023, https://www.investing.com/news/stock-market-news/sp-500-off-lows-but-remains-under-pressure-as-ratehike-fears-dent-tech-3007413

    2. “U.S. stocks end mixed, Dow books longest weekly losing streak since September as traders bet on more Fed rate hikes” MarketWatch, 17 Feb. 2023, https://www.marketwatch.com/story/u-s-stock-futures-point-to-further-losses-on-fed-rate-hike-jitters-bfd51efc

    3. “Central Bank Comments on Tighter Monetary Policy Weighs on Stocks” Barchart, 17 Feb. 2023, https://www.barchart.com/story/news/14311438/central-bank-comments-on-tighter-monetary-policy-weighs-on-stocks

    4. “Stock market news today: S&P 500, Nasdaq slip amid hawkish Fed, sticky inflation signs” Yahoo Money, 17 Feb. 2023, https://money.yahoo.com/stock-market-news-live-updates-february-17-2023-124607352.html

    5. “Stock Market Today: Stocks Close Mostly Lower Amid Rate-Hike Worries” Kiplinger's Personal Finance, 17 Feb. 2023, https://www.kiplinger.com/investing/stocks/stock-market-today-021723-stocks-close-lower-amid-rate-hike-worries

    6. “S&P Futures Tick Lower Ahead of Key U.S. PPI Data” Barchart, 16 Feb. 2023, https://www.barchart.com/story/news/14260125/s-p-futures-tick-lower-ahead-of-key-u-s-ppi-data

    7. “Stock Market Today: Hot Inflation Data Sends Stocks Lower” Kiplinger's Personal Finance, 16 Feb. 2023, https://www.kiplinger.com/investing/stocks/stock-market-today-021623-hot-inflation-data-sends-stocks-lower

    8. “Stock Market Indexes Pull Ahead In Final Hour; Etsy Posts Over 6% Gain” Investor's Business Daily, 15 Feb. 2023, https://www.investors.com/market-trend/stock-market-today/the-stock-market-climbs-out-of-morning-hole-stock-soars/

    9. “Dow Jones Dives Amid Inflation Data Surprise; Elon Musk Offers This Defense Amid Big Tesla Recall” Investor's Business Daily, 16 Feb. 2023, https://www.investors.com/market-trend/stock-market-today/dow-jones-falls-amid-inflation-data-surprise-elon-musk-lashes-out-amid-big-tesla-recall-tesla-stock-tsla-stock-microsoft-stock-ai-chatgpt/

    10. “Stock market news today: Stocks sell off after hot inflation report, hawkish Fedspeak” Yahoo Money, 16 Feb. 2023, https://money.yahoo.com/stock-market-news-live-updates-february-16-2023-122740853.html

    11. “U.S. stocks are mixed after Fed officials stoke rate fears By Investing.com” Investing.com, 17 Feb. 2023, https://www.investing.com/news/stock-market-news/us-stocks-are-falling-after-fed-officials-stoke-rate-fears-3007153

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