Markets Mixed Friday To Cap Weekly Losses After Election
The three days of trading after Tuesday's elections would whipsaw Wall Street. On Friday, some calm did return for a mixed finish, but all three major indices would lose the week due to Thursday's tumble.
Midterm Results Spark Huge Swings & Thursday's Tumble
The markets went through some volatile days after the elections, but none would be more disruptive than Thursday. Over the day, trillions in stock value got wiped out with AI and data centers hit hardest.
Jobs Report: October Hirings Surge, Unemployment Cools
The labor market's resiliency was on full display in the new jobs report. Hirings in October blew past expectations by more than double with 165,000 new additions as the unemployment rate edged lower.
Consumer Sentiment Rallies, But Inflation Worries Remain
The new jobs report wasn't Friday's only surprise. The initial consumer sentiment survey for November unexpectedly rose after months near the record low. While it's a positive, inflation angst is still high.
War Updates: Latest Reports On Conflict And Negotiations
New developments in the war with Iran, both in the Middle East and back here at home, continue to come out rapidly. For the latest on the hostilities and efforts to reach a deal, updates can be found here.
Still Ahead: Tech Watch, New Inflation Readings & Fed Talk
The incoming week will likely bring even more volatility for the markets. The state of AI will remain in focus, but it will have company. The new CPI and PPI will land, and Fed policymakers are due to speak.