Weakness in tech companies weighed on the overall market on Friday, chipping away at gains in major indexes this week.
Investors are weighing the latest data showing consumer sentiment has fallen more than expected this month and are keeping an eye on next week’s Fed policy decision.
Overseas, factory production and personal consumption both improved in China last month, and the unemployment rate fell further. The People’s Bank of China has lowered short-term lending rates in a new measure to support the country’s recovery.
Stocks fell. The Nasdaq Composite Index led the decline.
“Triple Witching” There could be more market drama on Friday as many futures and options contracts expire.
My arms went up. The chip designer rose after a volatile stock market debut.
Car manufacturers were mixed. After the United Auto Workers union went on strike at each company, the stock prices of GM, Ford, and Stellantis rose slightly and fell slightly.
adobe The stock was the biggest decliner in the S&P 500 as the results disappointed investors.
Oil continued to increase. The most actively traded Brent crude oil contract was on track to close just above $94, its highest since November.
Government bonds remained stable. The benchmark 10-year Treasury yield rose to 4.319% after settling at 4.289% on Thursday.