Big Tech Weighs on Stock Market after Fed Pause
Wall Street is finally buckling in for a longer ride with higher borrowing costs
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Wall Street is finally buckling in for a longer ride with higher borrowing costs
On Monday, September 18, the U.S. markets closed with a slight uptick, as stocks stayed relatively stable, with a heightened emphasis on assessing future interest rate trends. Most S&P 500 sectors ended positively on Monday, with energy and tech leading the gains, while consumer discretionary and real estate sectors saw declines.
On Friday, September 15, the U.S. markets ended lower, with S&P 500 and Nasdaq posting losses for the second consecutive week. U.S. stocks deepened their decline and ended lower following a week of varied economic data, with investors shifting their focus to the Federal Reserve's upcoming interest rate decision next week.
Stocks to watch: The United Kingdom last week announced a joint investment package with Tata Steel worth 1.25 billion pounds, including a government grant of 500 million pounds, for the country's largest steelworks in Wales that will help protect thousands of jobs and boost the British economy. Get more Stocks News and Business News on Zee Business.
On Thursday, September 14, U.S. markets ended higher; the Dow surged over 300 points, its biggest single-day gain in over five weeks. The increase was driven by the strong performance of the U.S. consumer sector, supported by recent retail sales data. August U.S. producer prices increased by 0.7%, surpassing the expected 0.4% rise. Retail sales also grew by 0.6%, following a revised 0.5% increase in July. Initial jobless claims rose by 3,000 to 220,000 in the week ending September 9, slightly lo