OLMA - Wall Street Breakfast: What Moved Markets
Listen on the go! A daily podcast of Wall Street Breakfast's Alpha Talks will be available this morning on Seeking Alpha, iTunes, Stitcher and Spotify. Stocks closed out the week with a decline, but managed to limit some damage with last-hour buying. The Nasdaq (COMP.IND) -1.9% took the brunt of the selling again, while the S&P (SP500) -0.9% and Dow (DJI) -0.2% also finished in the red. The S&P and Nasdaq had their second-straight losing week, off 1.2% and 2.6% respectively. The Dow Industrials have been down four weeks in a row. Rates tumbled, with the 10-year Treasury yield falling 10 basis points to 1.35%.Nonfarm payrolls came in lower than expected for November, but the jobless rate dropped and the labor participation rate rose. Rate expectations were pulled forward and there is now a 50% of a quarter-point rate hike in May, according to fed funds futures. Powell Pivots After
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Wall Street Breakfast: What Moved Markets