The Nasdaq ended Friday lower and notched its second consecutive losing week in 2023 as semiconductor stocks languished. The Dow gained 0.30%. The S&P 500 shed 0.11%. The Nasdaq fell 0.56%.
It would mark the second straight week of losses for both indexes. That weekly streak length would be a first for the Nasdaq since the period of four straight down weeks that ended in December 2022.UBS Global Wealth Management's Solita Marcelli noted that Thursday's consumer price index report gives hope that the Federal Reserve can soon end its rate hiking campaign.
To be sure, she added that "while the continued downward trend in inflation should support equity market sentiment, a rosy economic outlook was already priced into stocks."European markets opened lower Friday as investors continue to digest earnings and theThe pan-European Stoxx 600 index was down 0.5% in the first minutes of trading, with all sectors opening in negative territory. Mining stocks led losses with a 1% downturn, followed by oil and gas and autos, which both dropped 0.9%.
The Singapore dollar was little changed strengthening 0.01% to trade at 1.3491 against the greenback.Shares of Chinese real estate companyslid to an all time low after the company issued a profit warning late Thursday.
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