: Dow ends higher Friday, but S&P 500 posts back-to-back weekly losses as rates worries rev back up


U.S. stocks closed mostly lower on Friday, with the S&P 500 and Dow both ending a choppy week with losses, as concerns reared back up about how quickly the Federal Reserve might need to hikes rates to cool stubbornly high inflation. The Dow Jones Industrial Average DJIA, +0.39% rose about 130 points on Friday, or 0.4%, ending near 33,826, while posting a 0.1% weekly drop, according to preliminary data from FactSet. The S&P 500 index SPX, -0.28% shed 0.3% Friday and lost 0.3% for the week, posting back-to-back weekly declines. The Nasdaq Composite Index COMP, -0.58% fell 0.6% Friday, but a 0.6% weekly gain. The backdrop for stocks has gotten cloudier in recent sessions as surging wholesale prices signaled that inflation could continue to be slow to retreat in the U.S. Several Fed speakers this week also pointed anxiously to inflation that isn’t retreating fast enough, triggering concern in markets that the Fed might need to fire off more rate hikes and keep them in restrictive territory for longer than initially anticipated.

This article was originally published by Marketwatch.com. Read the original article here.

Previous articleThe Moneyist: I’ll inherit $40,000 from my grandmother. Should my husband and I boost our kids’ college savings accounts, or pay off credit cards and student loans?
Next articleU.S. stocks open lower as Wall Street mulls path of Fed interest-rate policy


Please enter your comment!
Please enter your name here