Highlights
Stocks seesawed in volatile trading to end narrowly mixed Friday with weakness in big technology shares depressing the major averages, offset by better strength in the broader market and defensive sectors. The Dow Jones industrial average and the broader S&P 500 both firmed 0.1 percent and the Nasdaq eased 0.2 percent. US Treasury yields fell, the dollar was mostly down versus major currencies while oil and gold prices rose.
A softer than expected US consumer price report renewed hopes for Federal Reserve rate cuts to bolster cyclical/value as rotation into these sectors out of growth and megacaps persisted. Reall estate, the rate-sensitive sector, was among the best performers.
Definition
Market Reflections track market reaction to the trading day's major events. Economic data, policymaker speeches, and company news are featured in this report as well as key indexes and financial instruments.
Description
Understanding why markets respond as they do is fundamental for an investor. Market Reflections help explain how the day's events, news, and data impact the outlook for the economy and for market prices.