U.S. Stocks Dip as Focus Shifts to Interest Rates; Weekly Initial Unemployment Claims Rise
U.S. stocks fell Wednesday as investors focused on Federal Reserve Chairman Jerome Powell’s remarks regarding the trajectory of interest rates. The Dow Jones Industrial Average dropped 0.6%, and the S&P 500 declined 1.1%. The Nasdaq composite decreased by 1.7%. The Russell 2000, a small-cap index, saw a 1
At the end of trading, the Dow Jones Industrial Average decreased 0.7%, settling at 33,699. The S&P 500, a broader index, decreased 0.9% to reach 4,081. The Nasdaq Composite, which is heavily invested in technology, ended the day at 11,789 after dropping At the opening bell on Friday, the Dow Jones Industrial Average dropped by 0.1%, and the S&P 500 decreased by 0.2%. The tech-heavy Nasdaq composite lost 0.6% in morning action.
Despite starting off the day with a rise, the Dow Jones Industrial Average closed down 0.7% on Thursday, and the S&P 500 ended 0.9% lower. The Nasdaq composite experienced a 1% decrease. On Friday, the Dow Jones Industrial Average decreased 127.9 points (0.4%) to 33,926, the S&P 500 decreased 43.3 points (1%) to 4,136.5, and the Nasdaq Composite decreased 193.9 points (1.6%) to 12,007 during the regular session. The Dow decreased by 0.1% over the course of the week, while the S&P 500 increased 2.2% to its highest level in six months and the Nasdaq surged 4.3% to reach its highest point in
As of 13:29 Eastern Time (18:29 GMT), the Dow Jones Industrial Average had declined by 63 points, or 0.2%, while the S&P 500 decreased by 0.1% and the NASDAQ Composite remained unchanged.
Top stocks to buy and watch included electric-vehicle leader Tesla (TSLA), Dow Jones tech giants Apple (AAPL) and Microsoft (MSFT), as well as Visteon (VC), Etsy (ETSY) and Wingstop (WING). Top growth stocks to buy and watch included Inspire, Snowflake, and Wingstop.
Initial unemployment claims in the United States increased by 13,000 over the course of the week, reaching 196,000. This is higher than the expected 190,000 and indicates a weaker labor market.
0. “Stocks Fall as Investors Keep Eye on Path of Interest Rates” The Wall Street Journal, 8 Feb. 2023, https://www.wsj.com/articles/global-stocks-markets-dow-update-02-08-2023-11675858404
1. “Futures Strong As Disney Jumps; Why This Rally Looks Healthy” Investor's Business Daily, 9 Feb. 2023, https://www.investors.com/market-trend/stock-market-today/dow-jones-futures-disney-jumps-why-this-market-pullback-looks-healthy/
2. “Stock Market News Today: Yields Jump Ahead of Speech From Fed's Powell” Markets Insider, 6 Feb. 2023, https://markets.businessinsider.com/news/stocks/stock-market-news-today-dow-sp500-bond-yields-jerome-powell-2023-2
3. “Dow futures trade lower, earnings in focus By Investing.com” Investing.com, 5 Feb. 2023, https://www.investing.com/news/stock-market-news/dow-futures-trade-lower-earnings-in-focus-2995587
4. “U.S. stocks reverse gains; Dow down and Nasdaq flat By Investing.com” Investing.com, 9 Feb. 2023, https://www.investing.com/news/stock-market-news/us-stocks-are-rising-after-strong-earnings-reports-disney-jumps-2999678
5. “Dow Jones Rallies 250 Points After Jobless Claims; Tesla Stock Doubles From Lows” Investor's Business Daily, 9 Feb. 2023, https://www.investors.com/market-trend/stock-market-today/dow-jones-futures-rise-ahead-of-jobless-claims-disney-surges-on-earnings/
6. “Stocks Push Higher on Strong Corporate Earnings and Lower Bond Yields” Barchart, 9 Feb. 2023, https://www.barchart.com/story/news/14062870/stocks-push-higher-on-strong-corporate-earnings-and-lower-bond-yields
Leave a Comment
You must be logged in to post a comment.