• Disclosure
  • Privacy Policy
  • DMCA Policy
  • CCPA
  • Medical Disclaimer
Friday, February 3, 2023
Galveston County News Online
  • Home
  • News
  • Business
  • Technology
    • Crytpocurrency
    • Gaming
    • Gadgets
  • Sports
  • Health
  • General
    • Business Services
  • Travel
  • Press Releases
  • Popular
No Result
View All Result
  • Home
  • News
  • Business
  • Technology
    • Crytpocurrency
    • Gaming
    • Gadgets
  • Sports
  • Health
  • General
    • Business Services
  • Travel
  • Press Releases
  • Popular
No Result
View All Result
No Result
View All Result
Home News

Wall St Closes First Week Of 2022 With Declines On U.S. Rate-Hike Worries – Reuters

wall-st-closes-first-week-of-2022-with-declines-on-us.-rate-hike-worries-–-reuters
Share on FacebookShare on Twitter
Register now for FREE unlimited access to Reuters.com
  • U.S. nonfarm payrolls rise by 199,000 in December
  • Rising U.S. Treasury yields boost bank shares
  • GameStop jumps after report of foray into NFT, crypto markets

NEW YORK Jan 7 (Reuters) – Wall Street wrapped up the first week of the new year with daily and weekly losses as investors worried about looming U.S. interest-rate hikes and unfolding Omicron news.

The S&P 500 and Nasdaq ended down on Friday, with the latest U.S. jobs report underscoring investor worries that the Federal Reserve will aggressively hike interest rates to fight inflation.

Friday’s Labor Department data showed the U.S. jobs market was at or near maximum employment even though employment rose far less than expected in December amid worker shortages. read more

Register now for FREE unlimited access to Reuters.com

On Wednesday, minutes of the Fed’s Dec. 14-15 policy meeting published showed officials at the U.S. central bank viewed the labor market as “very tight,” and signaled the Fed may have to raise rates sooner than expected to curb inflation.

“The investor takeaway is that the labor market continues to be tight despite the headline miss,” said Michael Arone, chief investment strategist at State Street Global Advisors in Boston.

“Investors are concerned the Fed will be more aggressive than expected.”

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., January 6, 2022. REUTERS/Brendan McDermid

Consumer discretionary and (.SPLRCD) and technology (.SPLRCT) sectors led the way lower on the S&P 500 on Friday, while the S&P 500 financials sector (.SPSY) and banking index (.SPXBK) extended recent gains.

Banks have been helped by rising U.S. Treasury yields. The 10-year yield hit its highest since January 2020.

According to preliminary data, the S&P 500 (.SPX) lost 19.00 points, or 0.42%, to end at 4,676.51 points, while the Nasdaq Composite (.IXIC) lost 146.29 points, or 0.98%, to 14,934.57. The Dow Jones Industrial Average (.DJI) fell 8.27 points, or 0.02%, to 36,228.20.

Rising cases on the Omicron variant of the coronavirus also caused investor jitters this week.

Investors have been rotating out technology-heavy growth shares and into more value-oriented shares, which they think may do better in a high interest-rate environment.

The S&P 500 energy sector (.SPNY) gained sharply during the week.

“Meme stock” GameStop Corp (GME.N) jumped after the video game retailer said it is launching a division to develop a marketplace for nonfungible tokens and establish cryptocurrency partnerships. read more

Register now for FREE unlimited access to Reuters.com

Additional reporting by Devik Jain and Shreyashi Sanyal in Bengaluru; Editing by Maju Samuel and David Gregorio

Our Standards: The Thomson Reuters Trust Principles.

Galveston County News Online

© 2021 Galveston County News Online

Navigate Site

  • Disclosure
  • Privacy Policy
  • DMCA Policy
  • CCPA
  • Medical Disclaimer

Follow Us

No Result
View All Result
  • Home
  • DMCA Policy
  • Medical Disclaimer
  • Privacy Policy
  • Disclosure
  • CCPA
  • Terms of Use

© 2021 Galveston County News Online

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
Cookie SettingsAccept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT