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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
Coverage Details
Total News Sources12
Leaning Left1Leaning Right2Center4Last UpdatedBias Distribution57% Center
Bias Distribution
- 57% of the sources are Center
57% Center
14%
C 57%
R 29%
Factuality
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