US Stocks Poised to Finish Week in the Red
The S&P 500 fell 0.6%, the Nasdaq lost 0.9% and the Dow Jones declined more than 200 points on Friday, extending the previous session’s losses and pointing to another weekly decline.
Persistent concerns over AI stock valuations and uncertainty about the Fed’s next rate move kept investors cautious, amid growing divisions among policymakers and worries about the labor market. The ongoing government shutdown continues to delay key economic releases, including the jobs report originally scheduled for today. Tech remained the biggest loser, followed by consumer discretionary while consumer staples outperformed.
Nvidia slipped 2.4%, marking a fourth straight day of losses. Other megacaps were also weaker, including Apple (-0.3%), Amazon (-1.2%), Meta (-1%), Alphabet (-1.5%), Broadcom (-2.5%), and Oracle (-3%). Tesla fell 4.4% after shareholders approved Elon Musk’s potential $1 trillion pay package. For the week, the S&P 500 is down 1.8%, the Dow Jones 1.4%, and the Nasdaq 2.8%.
Source : Tradingeconomics.com
