US stocks slipped on Friday as high inflation and a rebound in rates continue to weigh on investor sentiment. The S&P 500 shed 0.92%, and the Nasdaq Composite fell 1.30%. The Dow Jones Industrial Average was down 104 points, or 0.34%, but off lows of the day.
Yields on the 10-year and 2-year US Treasury bonds hit levels not seen since November, weighing on equities.
Energy was the biggest laggard across indexes. Albemarle and Devon Energy fell more than 10% and nearly 5%, respectively, weighing on the S&P 500.
Investors continue to worry about how the economy and equities will hold up as the Federal Reserve hikes rates to tame stubbornly high inflation. In a Friday speech, Federal Reserve Governor Michelle Bowman said there\u2019s a long way to go before the central bank reaches its target of 2% inflation.
Equity investors seem to be looking through a couple more rate hikes and looking forward to a pause. The moves came after major averages shed more than 1% on Thursday, after the Labour Department said the producer price index, an inflation metric that tracks wholesale prices, rose 0.7% last month. That was more than economists expected.<\/p>\n","protected":false},"excerpt":{"rendered":"
US stocks slipped on Friday as high inflation and a rebound in rates continue to weigh on investor sentiment. The S&P 500 shed 0.92%, and the Nasdaq Composite fell 1.30%. The Dow Jones Industrial Average was down 104 points, or 0.34%, but off lows of the day. Yields on the 10-year and 2-year US Treasury …<\/p>\n","protected":false},"author":13,"featured_media":31017,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[39,36],"tags":[8899,516],"class_list":["post-80197","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-global-stock-markets","category-market-updates","tag-rate-hikes","tag-sp-500"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/80197","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=80197"}],"version-history":[{"count":3,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/80197\/revisions"}],"predecessor-version":[{"id":80206,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/80197\/revisions\/80206"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/31017"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=80197"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=80197"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=80197"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}