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By Staff Reporters
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Stocks fell yesterday after this week’s inflation data made investors worried about high prices. Tech companies took a hosing, especially Adobe, which dropped after releasing a weak sales forecast.
Here’s where the major benchmarks ended:
- The S&P 500 index fell 33.39 points (0.7%) to 5,117.09, down 0.1% for the week; the Dow Jones Industrial Average lost 190.89 points (0.5%) to 38,714.77, down 0.02% for the week; the NASDAQ Composite fell 155.36 points (1.0%) to 15,973.17, down 0.7% for the week.
- The 10-year Treasury note yield (TNX) rose about 1 basis point to 4.308%.
- The CBOE Volatility Index® (VIX) rose 0.01 to 14.41.
Tech weakness sent the NASDAQ-100® (NDX), which includes the NASDAQ’s biggest non-financial companies, down 1.2% to its lowest level in over three weeks. The small-cap-focused Russell 2000® Index (RUT) bounced Friday but still ended the week with a 2.1% loss, breaking a two-week winning streak. Energy companies extended a recent rally behind climbing crude oil prices, pushing the Philadelphia Oil Services Index (OSX) up almost 5% for the week to its highest level since early November.
In other markets, the U.S. dollar strengthened behind expectations the Fed will keep interest rates high. The U.S. dollar index ($DXY) posted a gain of 0.7% for the week.
CITE: https://www.r2library.com/Resource
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Filed under: "Ask-an-Advisor", Breaking News, Financial Planning, Investing | Tagged: CBOE, DJIA, NASDAQ, NDX, NYC, OSX, RUT, S&P 500, stocks fall, stocks fell, VIX |
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