Loss week on Wall Street despite Friday’s rally – E24

Loss week on Wall Street despite Friday's rally - E24

US indices jumped after a quiet start to the day, but nonetheless ended with a negative week as a whole.


This is how Friday’s trading on Wall Street ended:

  • Dow Jones rose 0.64 percent
  • The Nasdaq rose 1.19 percent
  • Standard & Poor’s 500 rose 0.81 percent

All three indicators are rounded off by the week as a whole with a low.

At the same time, it’s not the big moves you see on Wall Street. And the previous fall is of noteworthy size, it’s been a long time since it happened.

according to Market Watch It’s now 200 trading days since the last S&P 500 broad index fell 5 percent from its peak. This should only have happened eight times before.

New signals from the Federal Reserve

This week, the minutes of the Federal Reserve’s previous interest rate meeting were a sign of the market.

There were signs that the central bank might abandon its securities purchases earlier than initially expected.

These purchases are being made to send money to the market, and investors now fear that the downsizing may come too quickly, many experts believe.

In addition, the virus pandemic, and the new delta variant, continues to affect the global market.

The market narrative could therefore be more cautious, as concerns about peaking growth rates, the delta variable, and mistakes in monetary policy could lead to headwinds, at a time when seasonal and technical details are unfavorable, say Barclay strategists. Write in a Friday note, prepared by CNBC.

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Oil prices also fell this week, and the decline also continued on Friday.

At 22:00 NST, the price of North Sea oil (Brent spot) was down 2.3 percent for the day to $65 a barrel. Meanwhile, US Light Sweet Oil (WTI) is trading at $61.85 a barrel, down 3.1% on the day.

Dalila Awolowo

Dalila Awolowo

"Explorer. Unapologetic entrepreneur. Alcohol fanatic. Certified writer. Wannabe tv evangelist. Twitter fanatic. Student. Web scholar. Travel buff."

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