U.S. stocks and bonds traded in a narrow range, and investors looked beyond the latest U.S. debt rating outlook downgrade. Crude oil and gold edged higher.
U.S. market averages declined after advancing for two weeks in a row. Moody's lowered its U.S. debt rating outlook to negative but held its highest level rating, citing fiscal deterioration and partisan gridlock in Washington.
After rising for almost two weeks, market indexes began to decline as investors reevaluated the state of the world economy and the recent gains made in tech stocks. Treasury yields turned higher, and crude oil hovered near a four-month low.
Stocks paused, crude oil declined, and U.S. Treasury yields edged lower as investors attempted to extend the best weekly gain of 2023 registered last week.
Stock market indexes paused, crude oil prices declined to one-month lows, and Treasury yields continued to drift lower on the stable outlook for interest rates.
Benchmark stock market indexes lacked direction after rallying in the previous week, and investors reviewed the latest batch of earnings from banks. Retail sales in the Euro Are declined for the third consecutive month in September as consumers battled elevated prices and rising interest rates.
Tech stocks led gainers for the second week in a row after the Nasdaq Composite extended the rally to the eighth session. Crude oil continued to decline after tensions in the Middle East eased.
Market indexes paused after rallying for six days in a row, and investors reviewed a fresh batch of earnings announcements and awaited Fed Chairman Powell's comments later in the day.
After rallying for days, benchmark indexes turned lower as worries about the commercial and residential real estate sectors resurfaced. The sharp jump in interest rates over the last eighteen months has kept the possibility of an economic slowdown alive for some investors.
Positive sentiment extended the previous week's solid market advances after rate uncertainties eased and improving earnings encouraged investors to add more stock exposure.
Benchmark indexes are set to book their best gains in one year after investors drove up stocks for the third day in a row in the hopes of stable interest rates until the Fed's first policy meeting in 2024.
For the second day in a row, market averages surged as policymakers considered the effects of cumulative interest rates on the economy, raising hopes that rates will remain unchanged over the next four months.
Benchmark indexes advanced more than 1% after Treasury yields edged lower and crude oil prices edged up, in the hopes that the Federal Reserve is more likely to hold rates at its next meeting in December.
