ZUMZ - Stocks Recover Yet Weekly Losses Loom Dollar Notches 8 Weeks of Gains: What's Driving Markets Friday? | Benzinga
Sentiment saw a revival on Friday, but stocks are still on track for a weekly decline.
Apple Inc. (NASDAQ:AAPL) rose 1%, putting a halt to the 6% decline observed over the last two sessions due to concerns regarding a potential Chinese ban on iPhones.
Meanwhile, the U.S. dollar is on track for its eight straight week of gains, the longest streak since 2014.
Investors have almost entirely factored in an impending pause in Fed interest rates for this month, ahead of the critical CPI and PPI reports scheduled for next week. Economists are forecasting an increase in the annual inflation rate from 3.2% to 3.6%.
Cues From Friday’s Trading:
Both the Dow Jones Industrial Average and the S&P 500 Index experienced a 0.2% increase. The S&P 500 is poised for a 1.2% weekly decline, while the Dow has seen a 0.7% drop over the week.
The Nasdaq 100 tilted 0.3% higher, down 1.3% for the week. Small caps in the Russell 2000 held flat on the day, but fell over 3% this week.