Investors abandoned growth stocks as a much weaker-than-expected jobs report triggered fears the US economy could be heading for recession and sparked a sharp jump in volatility.
Weaker economic data rattled investors overnight as jobless claims rose and US manufacturing data notched its 16th straight contraction, the longest streak in a quarter of a century
Anticipating next week’s company earnings and economic figures.
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Stocks notched one of their biggest gains since February overnight, as the Federal Reserve kept rates unchanged, though signaled that it that potential cut in September was on the table.
Stocks headed lower led by tech amid cautious trading as the Fed kicked off its two-day meeting and investors awaited further earnings from big tech.
What’s Affecting Markets Today Fortescue sinks on $1.9B Block Trade JPMorgan sought buyers for $1.9 billion of discounted Fortescue stock
Equities closed slightly higher as investors kept their powder dry ahead of tech earnings and the Federal Reserve meeting due this week
Equities closed the week higher as investors flocked back to tech megacaps that had triggered broad sell-offs earlier in the week, and inflation data boosted optimism that the Federal Reserve will soon commence cutting interest rates.
Equities attempted a rebound early in the session but failed to hold those gains as Google led the Mag7 lower
Equities attempted a rebound early in the session but failed to hold those gains as Google led the Mag7 lower
Anticipating next week’s economic figures. Stay informed on the latest financial updates and trends.
Equities suffered their biggest one day loss since 2022 as tech stocks nosedived following underwhelming second-quarter earnings from heavyweights Alphabet and Tesla.
