Stocks Fall, Fed Meets Amid Stagflation Fears
Spokane News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Stock markets closed the week lower, with the S&P 500, Nasdaq, and Dow all heading for weekly declines. The Dow is on track for its worst monthly drop since December 2014. Economic data showed a mixed picture, with slower growth due to weaker consumer spending and business investment, but January consumer spending ticked up more than expected. This has led to a decrease in bets on Federal Reserve rate cuts. Market watchers are concerned about stagflation risks, with higher oil prices clashing against a cooling economy. The Fed meets next week and may hold rates steady amid spiking energy costs and softening jobs data. Sectors were mixed, with utilities up and tech, financials, and private credit funds down. Travel stocks were mixed on war and fuel worries, with airlines down and cruise lines up. Adobe plunged on CEO departure news, and Meta slipped after delaying its new AI model. Bitcoin gained, lifting related stocks.
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