The Dow Jones Industrial Average finished Friday with a modest gain for the session and the week, while the S&P 500 index and Nasdaq Composite posted a second straight weekly loss.What happened
The Dow Jones Industrial Average
DJIA
rose 105.25 points, or 0.3%, closing at 35,281.40.
The S&P 500
SPX
shed 4.78 points, or 0.1%, ending at 4,464.05.
The Nasdaq Composite
COMP
shed 93.14 points, or 0.7%, finishing at 13,644.85.
The Dow scored a 0.6% weekly gain, while the S&P 500 shed 0.3% and the Nasdaq Composite lost 1.9% for the week, booking its biggest back-to-back weekly loss since December 16, 2022, according to Dow Jones Market Data.
What drove markets U.S. stock indexes closed mostly lower Friday, losing steam intraday, a trend that’s taken hold in mid-August as technology shares slump, longer-dated Treasury yields rise, and investors consider if corporate earnings can hold up through the rest of this year. “I think it’s a confluence of things,” said Liz Ann Sonders, chief investment strategist at Charles Schwab & Co., in a phone call Friday. “There’s a growing realization that we have no revenue growth,” and the many companies have been beating earnings estimates because of cost cutting, she said. Cracks …
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The Dow Jones Industrial Average
DJIA
rose 105.25 points, or 0.3%, closing at 35,281.40.
The S&P 500
SPX
shed 4.78 points, or 0.1%, ending at 4,464.05.
The Nasdaq Composite
COMP
shed 93.14 points, or 0.7%, finishing at 13,644.85.
The Dow scored a 0.6% weekly gain, while the S&P 500 shed 0.3% and the Nasdaq Composite lost 1.9% for the week, booking its biggest back-to-back weekly loss since December 16, 2022, according to Dow Jones Market Data.
What drove markets U.S. stock indexes closed mostly lower Friday, losing steam intraday, a trend that’s taken hold in mid-August as technology shares slump, longer-dated Treasury yields rise, and investors consider if corporate earnings can hold up through the rest of this year. “I think it’s a confluence of things,” said Liz Ann Sonders, chief investment strategist at Charles Schwab & Co., in a phone call Friday. “There’s a growing realization that we have no revenue growth,” and the many companies have been beating earnings estimates because of cost cutting, she said. Cracks …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]