Wall Street Breakfast: What Moved Markets This Week

Listen on the go! Subscribe now to receive Wall Street Breakfast by 8:00 a.m. every trading day, and by 10:00 a.m. every Saturday, on Seeking Alpha, iTunes, Stitcher and Spotify (click the highlighted links).

Stocks faded into the close to finish lower Friday, capping their worst week since the end of May amid doubts about the magnitude of an expected Fed rate cut. Anticipation for a 50-basis point rate cut was dampened by a late afternoon WSJ report that the Fed likely would implement just a 25-bp cut at the July 30-31 FOMC meeting. For the week, the Dow slid 0.7% while both the S&P 500 and the Nasdaq dropped 1.2%, in the steepest weekly decline for all three benchmark indices since the end of May.

Original source

Add comment

Please Sign in to be able to leave comments.