U.S. stocks on Friday notched losses for the week as investors braced for tighter monetary policy from the Federal Reserve, and both the S&P 500 and Nasdaq pulled back from three consecutive weeks of gains.
The Dow Jones Industrial Average climbed 137.55 points, or 0.4%, to 34,721.12, while the S&P 500 dipped 0.27% to 4,488.28. The Nasdaq Composite fell 1.34% to 13,711.00.
All major averages declined for the week, with the S&P 500 closing down 1.27% and Nasdaq 3.86%. The Dow dipped 0.28% week-to-date, hitting back-to-back weekly declines.
The market moves came as investors reacted to a changing tone by the Federal Reserve, signaling it will act even more aggressively to fight inflation.
“It’s not that anything necessarily ‘positive’ is happening or that buyers are rushing into the market, but the bad news is fully absorbed for the time being and the market is now waiting for the next data point,” wrote Adam Crisafulli of Vital Knowledge.
“We’re still of the view that nothing really…
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2022-04-07 22:03:50
