Reported 7 months ago
US stocks retreated from all-time highs on Friday, with the Dow Jones Industrial Average leading losses by about 0.3% as European political concerns and Elon Musk's pay package approval for Tesla influenced market sentiment. The S&P 500 and Nasdaq also dipped, despite recent record closes. While positive wholesale price data hinted at two possible interest rate cuts this year, concerns lingered as the Federal Reserve reduced its projected cuts from three to one in 2024. Technology stocks remained strong, driving weekly gains for the S&P 500 and Nasdaq, but the Dow faced a potential weekly loss. Notable individual movements included Adobe shares soaring 15% after an AI sales forecast and RH stock dropping 17% due to disappointing earnings and future guidance.
Source: YAHOO