Wall Street’s main indexes closed lower on Friday as investors stepped back while they digested a mixed bag of economic data and earnings reports and prepared for a week filled with economic releases and a Federal Reserve meeting.
Stocks took a step up after Trump said in a virtual address to the World Economic Forum that he would “demand that interest rates drop immediately.”
The Dow Jones Industrial Average (DJIA) continued its steady drift into the high end on Thursday, gaining 0.8% and adding around 350 points to the tally as investors broadly tilt into a risk on stance.
In midday trading, the Dow Jones Industrial Average fell 57 points ... oil prices and interest rates to be lowered at the World Economic Forum in Davos, Switzerland. On a weekly basis, Wall ...
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"I'll demand that interest rates drop immediately and likewise they should be dropping all over the world," Trump said to business leaders from around the world. The yield on the 10-year U.S. Treasury note retreated from its intraday high of 4.664% following Trump's comments but closed at 4.648%, up from 4.599% on Wednesday.
Wall Street traded slightly higher during midday Thursday as investors assessed the ongoing earnings season while closely monitoring policy signals from President Donald Trump.
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Stocks were jittery on Thursday as uncertainty lingers over President Donald Trump's plans for tariffs, while tech stocks digested recent gains on the White House's artificial-intelligence ambitions.
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The calm moves in futures come after a Wednesday trading session that saw the S&P 500 set an intraday record high on Wednesday. The broad market index finished the day with a gain of 0.61%, just below its record closing high, for a third-straight winning session.
Stocks closed lower Wednesday after the Federal Reserve left its key interest rate unchanged amid persistent inflation, as investors prepared for a slew of earnings reports from major technology companies.