US stocks were mixed on Friday, with the slightly higher, the about flat, and the moving lower to hit a seven-day losing streak. For the week, the S&P 500 and Dow Jones moved slightly lower, while the Nasdaq 100 jumped nearly 1%. Tech stocks led the market higher on Friday, partly driven by .
The company's stock popped 24% to a $1 trillion valuation for the first time ever after it reported solid earnings results that included a bullish outlook for its AI business. Stocks overall were under pressure this week amid a steady climb in interest rates. The 10-year US Treasury yield jumped about 25 basis points in the week as investors prepare for the Federal Reserve's FOMC meeting next week.
While the Fed is expected to cut interest rates by 25-basis points, some believe it could be a "hawkish cut" that ultimately leads to a pause in rate cuts beginning early next year. "It might be a 'hawkish cut' with the FOMC's Statement and Summary of Economic Projections signaling a pause in rate cutting early next year," market veteran Ed Yardeni said in a note on Thursday. Bank of America said in a Friday note that next week's rate cut is "fully priced" into the market and that due to the Fed's ongoing "data dependence," there are "risks for hawkish guidance, given signs of inflation stickiness.
" The CME Fed Watch Tool is pricing in just two 25-basis point interest rate cuts next year, down from the previous three expected just a week ago. On the inflation front this week, while the Novembe.
