2023-12-15 16:02:13
US stock indices fell at the beginning of trading on Friday, following their strong gains during the past two sessions, and following statements from policy makers that questioned the markets’ expectations for the date of starting the interest rate cut.
At the beginning of the session, the Dow Jones Index fell by 0.25% to 37,158 points, at 05:38 pm Mecca time, following closing yesterday at its highest level ever.
The S&P 500 index decreased by 0.20% to 4,709 points, while the value of the Nasdaq index increased by 0.35% to 14,816 points.
Dow Jones is heading to record weekly gains of regarding 2.8%, and is regarding to record its ninth consecutive week of rise, the longest series of its kind since 2019.
While the gains of the S&P 500 and Nasdaq indexes reached 2.5% each this week, this will be the seventh consecutive week of rise for the S&P 500, and it is its longest series of gains since 2017.
Stocks benefited strongly this week from the Federal Reserve’s monetary policy statement, which hinted at several rate cuts next year, following its decision to stabilize borrowing rates on Wednesday.
While some expect the series of cuts to begin next March, New York Federal Reserve Bank President John Williams said on Friday that it is too early to talk regarding when to cut interest rates, and that policymakers have not discussed this matter yet.
1702660383
#stocks #declined.. #Dow #Jones #heading #strong #weekly #gains
