US stocks slip as hot inflation print ends 5-week win streak
Even though the market recovered from Tuesday's hiccup, investor gloom has knocked stocks off a 5-week win streak.
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Even though the market recovered from Tuesday's hiccup, investor gloom has knocked stocks off a 5-week win streak.
The S&P 500 topped 5,000, and US stocks on Friday were headed for a fifth straight week of gains.
Wall Street stocks dipped in early trading as US earnings season unofficially began. Major US. bank fourth-quarter profits fell, and an S&P 500 bank index was down 0.9%.
This week, domestic investors will be eyeing key events such as the start of Q3FY24 earning season, IIP, and CPI data, along with core inflation, and initial jobless claims in the US that will keep the markets buzzing.
The S&P 500 was muted and Nasdaq inched lower on Monday in the run-up to an action-packed week that includes the Federal Reserve's policy meeting and inflation data, both of which will test investor optimism about monetary policy easing next year. The upbeat sentiment around stabilizing interest rates and robust quarterly earnings caused equities to rebound towards the end of the year, with the benchmark S&P 500 hitting its highest intra-day level of the year. The S&P 500 and Nasdaq also notched their highest closing since early 2022 on Friday, after data showed nonfarm p...