DIA - US Stocks Set To Finish Week In The Red Marking End Of Tough September: What's Driving Markets Friday? | Benzinga
On Friday, U.S. stocks displayed negative performance and were poised to conclude the month with declines across various sectors except for energy.
The S&P 500 is heading for its fourth consecutive week of losses, marking a negative streak that has not been observed so far this year. September is expected to stand as the worst-performing month for the broader market since December 2022.
The August report on the Federal Reserve’s preferred inflation measure yielded a subdued result. Yet the data failed to maintain an upbeat risk sentiment following the market’s positive performance Thursday.
The impending fear of a government shutdown, should a deal not be reached, continues to weigh on risky assets.
New York Federal Reserve President John Williams anticipates a moderation in GDP to approximately 1.25% next year, expects inflation to ease to 3.25% this year and foresees the Federal Reserve nearing its peak for the federal funds rate, he said Friday.
Cues From Friday Trading:
On Friday, both the S&P 500 and the Dow experienced losses, declining by 0.3% and 0.7%, respectively. For the month of September, these two indices have registered declines of 5% and 3.6%, respectively.
Tech stocks relatively outperformed, as the Nasdaq 100 was flat for the session, although it remained 5% lower for the month.
Small-cap stocks in the Russell 2000 edged down by 0.5% for the session, following a steep drop of ...