Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Gaza Ministry of Health: Direct threats to residential areas surrounding hospitals are part of "Israel’s" systematic plan targeting the healthcare system
Gaza Ministry of Health: We renew our urgent appeal to the relevant authorities to intervene and protect healthcare institutions
Gaza Ministry of Health: We warn against reaching the point of a complete collapse of the healthcare system in the southern part of the Strip
Gaza Health Ministry: Nasser Medical Complex in Khan Younis going out of service would lead to a humanitarian disaster with unpredictable consequences
Palestinian sources: Several displaced Palestinians were reportedly injured after being targeted by occupation forces while waiting for aid west of Rafah
Israeli media: A senior European Union official hinted that 'Israel' would be held accountable for violating international law in Gaza
Al-Qassam Brigades spokesperson Abu Obeida: The losses incurred by the occupation today in Khan Younis and Jabalia are an extension of a series of top-tier operations
Al Mayadeen's correspondent in South Lebanon: The invading Israeli force is digging a trench and erecting earthen berms, amid detected activity suggesting preparations to install espionage equipment
Al Mayadeen's correspondent in South Lebanon: An Israeli force breaches the "technical fence" in the Wazzani area
Israeli media: 4 Israeli soldiers killed in the Gaza Strip

Wall St. ends red for second week as stocks embrace Fed rate decision

  • By Al Mayadeen English
  • Source: Agencies
  • 16 Mar 2024 00:30
3 Min Read

The decline across US economic indicators comes as the March 20 Federal Reserve interest rate decision looms.

  • x
  • Wall St. ends red for second week as stocks embrace Fed rate decision
    A pole with a sign pointing toward Wall Street in 2019 (AFP)

Wall Street recorded a second consecutive red week due to the volatility of tech stocks ahead of next week's Federal Reserve interest rate decision.

The S&P 500 index, which monitors the stocks of the leading 500 US companies on the New York Stock Exchange, concluded on Friday at 5,119, decreasing by 32 points, or 0.6% for the day. Over the week, the S&P 500 declined by nearly 0.1%, mirroring the decline from the previous week.

Meanwhile, the Nasdaq Composite Index, which includes major tech companies like Google, Amazon, Apple, and Netflix, closed at 15,973, a drop of 155 points or nearly 1%. Compared to last week's 1.5% gain, the Nasdaq was 0.7% lower for the week.

Read more: Nvidia topping chip-making market for AI, decreasing competitive funds

The Dow Jones Industrial Average, which is a key indicator of Wall Street's stock performance and tracks 30 large US corporations, closed trading at 38,715, a decrease of 191 points or 0.5% for the day. It also declined by 0.1% for the week, similar to the past one.

The decline in both established and technology stocks occurred as data on US industrial production, factory activity, and consumer confidence showed mixed trends ahead of the rate decision on March 20.

Related News

Japan reports progress in US trade talks but no tariff agreement yet

Federal court backs partial White House ban on Associated Press

Thierry Wizman, a strategist in the US for the Australian financial group Macquarie, suggested that the mixed US economic data might lead central bank policymakers to question whether inflation has decreased sufficiently or if it is necessary to maintain restrictive interest rates.

"I think the other issue here is not just the 2024 and 2025 (outlook) … it is the other issues that the Fed is thinking about, which includes that the (stock) market is too frothy," he was quoted by the Wall Street Journal as saying.

"For that reason, it could signal that it thinks long-term interest rates should be higher."

Read more: US economy uncertain amid growth, inflation concerns: Powell

The Fed said it is looking to cut rates as inflation moderates. But the central bank says it needs the Consumer Price Index, an oft-used indicator of inflation, to first show an annual reading of 2% or lower.

The Fed has been discussing slashing rates as inflation was moderating. But it still eyes a Consumer Price Index CPI - a primary indicator of the inflation rate - of 2% or lower as a target before taking this step.

CPI was last recorded in February at 3.2% year-on-year, and higher than that in January at 3.1%.

Read more: JPMorgan CEO says US economy speeding toward a 'cliff' as debt rises

  • United States
  • Federal reserve
  • Wall Street
  • US economy

Most Read

Lebanon's PM Nawaf Salam meets with US envoy Morgan Ortagus in Beirut on April 5, 2025 (Dalati Nohra via AP)AP)

Morgan Ortagus to exit US role in Lebanon amid policy shift

  • Politics
  • 1 Jun 2025
A Palestinian woman mourns as she embraces the body of her daughter Mayar Abu Odeh, 8, who was killed in an Israeli army strike on Gaza. at Al-Shifa Hospital in Gaza City, Wednesday, June 4, 2025. (AP)

French port workers block arms shipment to 'Israel' amid Gaza genocide

  • Politics
  • 4 Jun 2025
New Syrian group claims Golan strike, vows resistance to 'Israel'

New Syrian group claims Golan strike, vows resistance to 'Israel'

  • Politics
  • 4 Jun 2025
Palestinians struggle to get donated food at a community kitchen in Khan Younis, southern Gaza Strip, Monday, June 2, 2025. (AP)

Boston Consulting Group withdraws from GHF

  • Palestine
  • 3 Jun 2025

Coverage

All
War on Gaza

Read Next

All
https://english.almayadeen.net/news/politics/pentagon-chief--nato-likely-to-back-trump-s-5--defence-spend
Politics

Europe spent $3 trillion on defense, but got little in return - FT

Power, parties, and scandal: Trump’s ties to Epstein: Telegraph
Europe

Power, parties, and scandal: Trump’s ties to Epstein - The Telegraph

Eilat port as seen from the sea, occupied Palestine, March 12 2009 (wikimedia commons)
Politics

YAF operations forced 80% plunge in Eilat port revenues in 2024

EU backs International Criminal Court after US sanctions judges
Europe

EU backs International Criminal Court after US sanctions judges

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS