Wall Street Retreats As Treasuries Suffer Worst Week In Over A Year, Broadcom Soars, Bitcoin Rebounds: What’s Driving Markets Friday?
The U.S. stock market experienced subdued price action on Friday as investors adopted a cautious stance following disappointing inflation data earlier in the week and in anticipation of the Federal Reserve’s Dec. 18 meeting.
The tech-heavy Nasdaq 100 was the only major index to post gains, rising 0.4%. Yet, after briefly climbing to 21,900 points shortly after the market opened, tech stocks lost momentum and retreated by about 0.8%.
Other indices declined, with only a handful of sectors, such as utilities and healthcare, eking out marginal gains — highlighting a broader shift away from risk assets.
The market’s unease appears tied to diminished expectations for interest rate cuts in 2025, compounded by the possibility of hawkish commentary from Federal Reserve Chair Jerome Powell, particularly in light of the latest November’s inflation reports.
Treasury yields rose for the fifth day in a row, with the …
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