The Wall Street’s main stock indices step on the brakes this Friday, March 22, but it is heading towards closing a positive week, since the Investors applauded the Federal Reserve’s stance of a relief in the interest rates.
The three main US indices They reached Thursday all-time highs at closingas chip stocks rose following optimistic forecasts from Micron Technology and also encouraged by tone more“dovish” from the Fedby maintaining the forecast of three rate cuts during the year even though the growth and the working market they remain firm as well as the inflation has been showing greater downward resistance in recent months.
Wall Street attentive to comments from Fed officials
Traders now see a 71% chance that the first rate cut will occur in June, compared to 56% at the beginning of this week, according to the CME’s FedWatch tool. Likewise, investors will closely monitor the comments from a series of Fed officials They are expected later in the day for more clues on the trajectory of the central bank’s monetary policy.
The Dow Jones ended Thursday less than 1% from its first mark of 40,000 points. Along with the reference S&P 500, the Dow was on track for its best weekly performance so far this year. For his part, the Nasdaqwith great technological weight, was preparing to record its best week since mid-January.
Wall Street recalculates, although S&P 500 and Dow Jones mark their best week of the year
He Dow Jones Industrial Average loses 194.25 points, or 0.5%, to 39,587.12 units; he S&P 500 down 3.28 points to 5,238.25 units; and the Nasdaq Composite rises 31.57 points, or 0.2%, to 16,433.41 units.
Six of the 11 major S&P 500 sectors fell, with consumer discretionary losing 1%. Most rate-sensitive technology and growth stocks were lower in early trading.
Tesla led the losseswith a drop of 1.8%, after learning that the electric vehicle manufacturer reduced car production at its plant in China.
At the same time Nike falls 6.7%, after the world’s largest sportswear maker warned that its revenue in the first half of fiscal 2025 would decline by a single-digit percentage, as it reduces its franchises to save costs.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
