Wall Street Ends Mostly Lower a Day After Notching Its Best Quarter in Six Years
💡 The Dow Jones Industrial Average slipped on Friday, capping off its best quarter in six years.
The Dow Jones Industrial Average slipped on Friday, capping off its best quarter in six years. The S&P 500 and Nasdaq Composite also declined, with the former ending 2.4% higher for the quarter and the latter 6.7% higher.
Q4 Earnings Season
Alphabet () and Amazon () are set to report their quarterly results next week, with investors expecting strong growth despite a slowing economy.
Interest Rates
The Federal Reserve raised interest rates by 0.75% in December, and while some analysts expect a pause in rate hikes, others predict further increases in 2024.
Economic Outlook
The US GDP contracted 0.5% in the fourth quarter, according to the Bureau of Economic Analysis, sparking concerns about the health of the economy. Despite this, consumer spending remains strong, with retail sales increasing 3.7% year-over-year.
What It Means for Investors
💬 The Dow Jones Industrial Average slipped on Friday, capping off its best quarter in six years. The Dow Jones is set to end the quarter 8.7% higher, while the S&P 500 is up 5.4%. Do you think the Dow Jones will hold above 34,000 in the coming weeks? Share your view in the comments.
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