Stock market news live updates: Stocks end Friday with modest gains and weekly losses – Yahoo Finance

U.S. stocks advanced Friday after a shaky trading week marked by mixed retail earnings and a chorus of hawkish Fedspeak.
The S&P 500 (^GSPC) rose 0.5%, while the Dow Jones Industrial Average (^DJI) bounced 200 points, or 0.6%. The technology-heavy Nasdaq Composite (^IXIC) was flat. Treasury yields continued their ascent, with the benchmark 10-year note back above 3.8% and the rate-sensitive 2-year yield inching toward 4.5%.
An assembly of Fed officials on Thursday pushed back against speculation that a pause on monetary tightening is close. The remarks made in separate speaking engagements across the country sent stocks and bonds into disarray after a fleeting uptrend propelled by lighter inflation data.
Inflation has only recently shown signs of moderation, with consumer and producer price data still stubbornly high despite retreating in October. Meanwhile, U.S. retail sales rose at the fastest clip in eight months over the same period, prompting policymakers to hammer down on strict messaging about the work still needed to be done to tamp down elevated costs.
Minneapolis Federal Reserve Bank President Neel Kashkari said in a Minnesota Chamber of Commerce event webcast that the extent policymakers expect to raise their key federal funds rate remains an “open question.” His comments came after St. Louis Fed President James Bullard and ​​San Francisco Fed President Mary Daly each said the central bank is looking at a terminal rate of up to 5.25%.
“Fed Chair Powell recalibrated monetary policy at the November FOMC meeting by adopting a new ‘speed vs. destination’ paradigm – indicating an intention to reach a higher terminal fed funds rate while doing so at a slower pace,” EY Parthenon Chief Economist Gregory Daco said in a note. “The difficulty for the Fed will be to prevent an excessive and counter-productive loosening of financial conditions in the face of weaker-than-expected inflation.”
Goldman Sachs Group on Thursday also lifted its forecast for the Federal Reserve’s terminal rate to a range of 5% to 5.25%, tacking another 25-basis-point hike in May after increases of that size in February and March, and half a percentage point in December.
“Inflation is likely to remain uncomfortably high for a while, and this could put pressure on the FOMC to deliver a longer string of small hikes next year,” economists led by Jan Hatzius also said.
In the shadow of renewed rate jitters, Gap (GPS), Ross Stores (ROST), and Williams-Sonoma (WSM) rounded out a busy week of retail earnings.
Shares of Gap jumped 7% Friday after the company unveiled results that topped Wall Street estimates. Chief Financial Officer Katrina O’Connell, however, emphasized the macroeconomic environment remains challenging, but that Gap will take a “prudent approach in light of the uncertain consumer.”
Ross Stores shares rallied 10% after the retail chain beat on earnings forecasts and lifted its fourth-quarter guidance, citing sales momentum and improved assortments for the holidays.
Meanwhile, shares of home furnishings store Williams Sonoma sank 6% after it pulled its guidance through 2024 over “macro uncertainty.”
—
Alexandra Semenova is a reporter for Yahoo Finance. Follow her on Twitter @alexandraandnyc
Click here for the latest trending stock tickers of the Yahoo Finance platform
Click here for the latest stock market news and in-depth analysis, including events that move stocks
Read the latest financial and business news from Yahoo Finance
Download the Yahoo Finance app for Apple or Android
Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, LinkedIn, and YouTube
Related Quotes
Trading was halted for AMC after the stock saw heavy volume on Thursday afternoon.
(Bloomberg) — Blackstone Inc.’s $69 billion real estate fund for wealthy individuals said it will limit redemption requests, one of the most dramatic signs of a pullback at a top profit driver for the firm and a chilling indicator for the property industry.Most Read from BloombergMusk’s Neuralink Hopes to Implant Computer in Human Brain in Six MonthsAn Arizona County’s Refusal to Certify Election Results Could Cost GOP a House SeatBeverly Hills Cop Was California’s Highest-Paid Municipal Worker
All eyes have been on the economy this year, with investors and consumers alike looking for any indication that things are on the mend. With that as a backdrop for the day's trading session, e-commerce platform Shopify (NYSE: SHOP) climbed 5.5%, cybersecurity specialist Palo Alto Networks (NASDAQ: PANW) jumped 3.8%, and cloud-centric database provider MongoDB (NASDAQ: MDB) rallied 3% as of 12:22 p.m. ET. To be clear, there was little in the way of company-specific news about these businesses.
We’re getting near an inflection point in the markets, and change is in the air. In the immediate short-term, the Fed is expected to slow down on its rate-hike policy. While another rate hike – seventh for 2022 – is widely predicted for this month, Fed Chair Jerome Powell made it clear yesterday that the Fed will likely raise rates by 50 basis points, rather than 75. Chalk that up to two factors: the slowdown in the rate at which inflation is increasing, per the October numbers, and the risk tha
Is it safe to nuzzle up to Chinese stocks now? Investors had been keeping their distance from any stocks affiliated with the region as if they had a bad case of Covid. Which isn’t really that far from the truth. While U.S.-listed Chinese stocks have been under pressure from a whole host of reasons (fears of delisting, a harsh Chinese regulatory environment and a slowing domestic economy), the stringent zero-Covid lockdown measures have been a big reason for further depressing sentiment recently.
Shares of Costco fell after November data revealed a drop in sales.
There is no shortage of beaten-down stocks in the market, and that's true of Berkshire Hathaway's (NYSE: BRK.A)(NYSE: BRK.B) closely watched portfolio. Berkshire owns about four dozen different stocks, many of which were hand-picked by Warren Buffett himself, and many are down by 20%, 30%, or much more from recent highs. It's rare to find a company that is dominant in two distinct industries, but Amazon (NASDAQ: AMZN) certainly falls into this category.
In this article, we discuss the top 20 stocks in the Bill Gates stock portfolio. If you want to read about some more stocks in the Gates portfolio, go directly to Bill Gates Portfolio Stock List: Top 5 Stocks. Bill Gates is one of the most well-known personalities in the world of finance even though […]
Think price levels will be back to normal soon? Think again.
Bionano Genomics, Inc. (BNGO) witnesses a hammer chart pattern, indicating support found by the stock after losing some value lately. This coupled with an upward trend in earnings estimate revisions could mean a trend reversal for the stock in the near term.
In our call of the day, a former Wall Street investment banker warns that the cards are stacked against equity markets for the foreseeable future, and offers charts to back that up.
In this article, we discuss the 12 safest stocks to invest in. If you want to see more stocks in this selection, check out 5 Safest Stocks To Invest In. The stock market outlook for 2023 is rather dismal as per the majority of Wall Street analysts. According to Deutsche Bank, global stocks are forecasted […]
CrowdStrike stock is a buy today — but there's an even better bargain out there for stock investors.
The growing global adoption of electric vehicles is expected to boost EV charging stocks. ChargePoint earnings are due.
RiverFront Investment Group Global Fixed Income CIO Kevin Nicholson and CAPTRUST Director of Investments Christian Ledoux join Yahoo Finance Live to discuss recent comments made by Fed officials about interest rate hikes and the resilience of the American consumer.
Both oil stocks offer big yields and are excellent choices for income investors, but one could outperform in certain situations.
(Bloomberg) — Exchange-traded fund investors took Wednesday’s stock-market surge as an opportunity to offload $8 billion of holdings in two of the biggest equity funds. Most Read from BloombergMusk’s Neuralink Hopes to Implant Computer in Human Brain in Six MonthsAn Arizona County’s Refusal to Certify Election Results Could Cost GOP a House SeatBeverly Hills Cop Was California’s Highest-Paid Municipal WorkerNew York, Singapore Are the World’s Most Expensive Cities Right NowStocks Churn After Bi
These chipmakers have started rallying, and they could head higher in the new year thanks to notable catalysts.
Shares of Strum, Ruger rallied to a 4-month high, after the company declared a special dividend of $5.00 a share
Most S&P 500 investors got a little gain this month. But investors willing to look off the beaten path found huge gains.

source