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Nasdaq ends lower, stocks pare losses on signs of shutdown progress
Markets were mixed as 90% of S&P 500 companies reported earnings amid missing economic data from the longest U.S. government shutdown, with Fed rate cuts anticipated.
- The Nasdaq composite slipped 0.2% late in trading Friday as stocks wavered on Wall Street and are on track for their first weekly loss in the last four.
- The U.S. government shutdown has left routine reports unreleased, removing monthly employment data for September and October amid a weakening job market.
- With earnings season underway, more than 90% of companies within the S&P 500 have reported earnings, with Block falling 6.8% after missing forecasts while Peloton jumped 11.8% and Expedia Group surged 19.8%.
- Investors are betting on more Fed easing, pricing a 66% chance of another cut, though the Federal Reserve, which has trimmed rates twice this year, faces inflation risks above its 2% goal.
- Markets abroad also weakened as Europe and Asia closed lower, while the University of Michigan monthly consumer sentiment report showed a three-year low and China’s exports contracted 1.1% in October.
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12 Articles
12 Articles
The Dow Jones index was 0.16%, at 46.987,10 points, S&P 500 had a height of 0.13%, at 6,728.80 points, and Nasdaq closed at 0.21% points, at 23.004,538 points.
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Coverage Details
Total News Sources12
Leaning Left1Leaning Right3Center4Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
13%
C 50%
R 37%
Factuality
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