- U.S. stocks fell on Friday but are poised for a weekly gain as bond yields continue to decline.
- The S&P 500, Nasdaq and Dow Jones Industrial Average are all up about 2% or more this week.
- Inflation data was lower than expected, which raised hopes that the Fed would end its interest rate increases.
U.S. stocks fell on Friday but are poised for weekly gains, buoyed by a wave of optimism at the end of the Fed’s interest rate hikes.
The S&P 500, Nasdaq and Dow Jones Industrial Average are all up about 2% or more this week, resulting in worse-than-expected inflation data. In response, investors began to price in the greater likelihood that the central bank would decide to cut interest rates next year.
The 10-year Treasury yield continued to decline on Friday. Meanwhile, crude oil prices rose sharply after falling sharply on Thursday.
Here is the situation of the US indices at the market opening on Friday at 9:30:
Here’s what else is happening:
For commodities, bonds and cryptocurrencies:
- West Texas Intermediate crude rose 1.9% to $74.25 a barrel. Brent crude, the international benchmark, rose 1.9% to $78.90 a barrel.
- Gold remained unchanged at $1,987 per ounce.
- The 10-year Treasury yield fell 1 basis point to 4.435%.
- Bitcoin rose 1% to $36,340.
