Wall St edges lower as volatile week draws to a close
Wall Street’s main indexes capped off a tumultuous week where global markets were rattled and fears of a recession in the world’s biggest economy.
Wall Street’s main indexes capped off a tumultuous week where global markets were rattled and fears of a recession in the world’s biggest economy.
Wall Street somewhat rebounded from a disaster on Tuesday, as main stock indexes grew over 1%. Investors searched for bargains after a global stock selloff and panic of a possible recession occurred on Monday.
Data showed the U.S. economy expanded 2.8% in the second quarter versus estimates of 2%, but inflation subsided, leaving intact expectations of a September rate cut.
The Nasdaq and the S&P 500 hit record highs on Wednesday as strength in Nvidia and other mega stocks supported Wall Street’s winning streak.
Wall Street’s main indexes were mixed on Wednesday, with technology stocks attempting to find a floor after recent selloff.
The benchmark S&P 500 touched a record high on Thursday, boosted by strong gains in Nvidia.
Nvidia dethroned tech heavyweight Microsoft as its high-end processors play a central role in a scramble to dominate AI technology.
Harry Dent, the outspoken financial author and economist, is not reversing course from his bold “crash of a lifetime” declaration from this past December.
Wall Street’s main indexes crept higher in volatile trading on Monday as shares of Tesla and Apple advanced.
Some megacap growth stocks edged higher in early trading, with Meta Platforms, Amazon.com and Apple up between 0.6% and 1.5%.