1. Tech's Losing Streak Extends Ahead of Jobs Test: Markets Wrap.
- Author
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Flanagan, Cristin, Bolingbroke, Edward, Fanzeres, Julia, Nicholson, Alex, Rao, Sujata, and Rao, Rheaa
- Subjects
INTEREST rates ,PAYROLLS ,LABOR market ,EXCHANGE traded funds ,STOCK prices ,INVESTORS ,U.S. dollar ,UNEMPLOYMENT insurance - Abstract
Treasury yields rose and stocks dipped as traders awaited the release of the jobs report to gain insight into the Federal Reserve's potential interest rate cuts. The Nasdaq 100 experienced a five-day losing streak, with Apple Inc. falling after a downgrade. Ten-year Treasuries saw yields rise to 4% after data showed increased hiring in December. Traders will also be looking at European inflation data to determine if central banks can lower interest rates. Wagers on a March rate cut in the US have decreased, and economists predict an increase in nonfarm payrolls and a slight rise in the unemployment rate for December. [Extracted from the article]
- Published
- 2024