Equities closed sharply lower Tuesday, as tech was hurt by rising Treasury yields after economic data flagged concerns about stickier inflation, reining in bets of further Federal Reserve rate cuts.
The rally was primarily driven by semiconductor stocks and communication services, with most other S&P 500 sectors ending lower.
Stocks closed higher on Friday, ending the first week of the new year on a positive note ahead of data that should provide more insights on the health of the largest economy in the world.
ASX Leaders and Losers for 2024
Equities were mixed overnight, supported by rallies in megacap stocks like Nvidia and Broadcom on Wall Street. The S&P 500 and Nasdaq saw gains, while the Dow Jones Industrial Average experienced a slight decline.
catch up on this week in markets
Equities were broadly weak overnight, with the DOW eking out a gain, snapping its longest losing streak since 1974, even as the post-Federal Reserve rebound ran out of steam.
Equities headed lower overnight, with the DOW suffering its longest losing streak since 1978 as the Federal Reserve kicked off its last meeting of the year.
Stocks headed higher overnight as tech continued to shine ahead of the last Federal Reserve policy meeting of the year.
US stocks closed out the trading week near the unchanged mark in a subdued session on Friday, with the S&P 500 and Dow posting weekly declines, while the Nasdaq secured its fourth consecutive week of gains on Broadcom’s 24% rally
catch up on this weeks in markets
Stocks edged lower overnight as investors assessed key economic data ahead of the Federal Reserve’s meeting next week.
