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By Staff Reporters
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U.S. equities ended the day and week mixed ahead of the long holiday weekend. The markets continued to grapple with the possibility of further aggressive FOMC measures to try to tamp down inflation pressures after this week’s reports showed continued elevated consumer and wholesale prices.
Today, the economic calendar showed headline import price inflation declined more than expected in January, though excluding petroleum it unexpectedly rose. Meanwhile, recession uncertainty was preserved by a tenth-straight monthly decline in the Leading Economic Index. Earnings results were positive today, as Deere & Company topped estimates and raised its guidance, while Applied Materials also exceeded expectations and issued a favorable outlook.
Treasury yields were lower, and the U.S. dollar was mostly unchanged, while crude oil prices fell, and gold dipped.
And, Asian stocks finished broadly lower to close out the week, and markets in Europe diverged, as the global markets wrestled with uncertainty.
CITE: https://www.r2library.com/Resource/Title/0826102549
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Finally, CEO of ARK Investment Management and investment mega personality Cathie Wood purchased a hefty chunk of shares for Shopify Inc (SHOP) – Get Free Report. ARK scooped up 776,835 shares that are worth an estimated $34.8 million.
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Filed under: "Ask-an-Advisor", Alerts Sign-Up, Financial Planning, Glossary Terms, Investing | Tagged: Applied Materials, ARK, Ark Investment Management, Asian stocks, Cathie Wood, FOMC, gold, gold dip, gold dips, Leading Economic Indicator, oil dips, shopify, stocks mixed, Treasury yields | Leave a comment »
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