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By Staff Reporters
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Here is where the major benchmarks ended this week:
- The S&P 500 Index was down 6.54 points (0.2%) at 4124.08; the Dow Jones industrial average was down 8.89 at 33,300.62; the NASDAQ Composite was down 43.76 (0.4%) at 12,284.74.
- The 10-year Treasury yield was up about 7 basis points at 3.464%.
- CBOE’s Volatility Index was up 0.10 at 17.03.
Consumer Discretionary Socks led the declines Friday among S&P 500 sectors, with financials and energy shares also weaker. Worries over the potential for more trouble in the banking sector helped send the KBW Regional Bank Index to its lowest close since late 2020. Utilities and Consumer Staples were among the stronger performers.
CITE: https://www.r2library.com/Resource
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Jerome Powell May Get a New No. 2. President Biden said yesterday that he would nominate economist Philip Jefferson, who is already on the Fed’s board, to become second-in-command at the central bank, replacing Lael Brainard. He also plans to nominate the current US rep to the World Bank, Adriana Kugler, to an empty board seat. She would be the Fed’s first Latina governor. If confirmed by the Senate, the pair will jump into their new roles as the Fed continues to try to curb inflation without tipping the economy into a recession.
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Filed under: "Ask-an-Advisor", Alerts Sign-Up, Alternative Investments, Financial Planning, Investing | Tagged: CBOE, central bank, consumer discretionary stocks, DJIA, DOW, Federal Reserve, FOMC, Jerome Powell, KBW, NASDAQ, Philip Jefferson, S&P 500, Treasury yields, World Bank | Leave a comment »
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