U.S. major stock indexes slipped to break their four -sessions winning run, but they won the second week in a row after President Donald Trump softened his tone on tariffs, and called for lower interest rates and cheaper oils in his first week ago in the White House.
Trump suggested 25% duties on Canada and Mexico on February 1, which may be later than his previous promise to initiate tariffs on his first day. Also mentioned tariffs of just 10% on all Chinese importswould be well below 60% proposed the campaign.
“This has left investors with the feeling not only that its tariff plans are likely to be lower on the priority list, but they may eventually be far less aggressive than originally feared,” said Matthew Ryan , Head of the Global Financial Services Company Market Strategy. Ebury.
Firing further stock earnings, Trump to the leaders of the world Collected in Davos, Switzerland on Thursday he would demand lower interest rates and ask Saudi Arabia and other oil -producing countries to cut oil cost. Oil fell 0.09% to $ 74.55 per barrel.
The wide S&P 500 ended down 0.29%, or 17.47 points, to 6,101.24, below its closing record on Thursday from 6,118.71 and reached a record within a day of 6,128.18 near the outdoors. The Blue Chip Dow decreased 0.32%, or 140.82 points, to 44,424.25, and the NASDAQ technology-heavy decreased by 0.5%, or 99.38 points, to 19,954.30. The Treasury's 10 -year benchmark profits fell to 4.617%.
While Trump said it would “Call” lower interest ratesThe Federal Fund is responsible for monetary policy and generally works independently within Government.
The Fed is expected to meet next week and make a policy announcement on Wednesday. After a string of strong dataincluding a Blowout Jobs Report Decemberalmost no one expects the Feed to lower ratesAccording to the Fedwatch CME tool Which traces what the market thinks is the likelihood of moving rates.
The Fed Short -term benchmark feed funds target is 4.25% to 4.5%.
With tariffs on the backs of investors for the time being, they can turn their attention back to corporate news, especially earnings. Some of the main news of the day include:
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Verizon's earnings in the last three months of last year beat the expectations of analysts. The wireless provider also saw its best postpaid phone subscriber growth in five years, surprising analysts. Shares closed nearly 1%.
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Novo Nordisk's shares increased by about 8.5% on the consequences of positive early period for its amycretin obesity drug once a week.
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Twilight announced a stronger than expected earnings forecast, and his shares jumped 20%
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Texas Instruments warned that his first -quarter profit would lose the prospects of analysts as he wrestled with inventory accumulation in his key automotive and industrial markets. Shares came down 7.5% for its worst day since March 2020.
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CSX shares decreased by nearly 3% after the transport company said its fourth -quarter consequences had fallen due to sudden reductions in coal surcharge and fuel revenue.
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An intuitive surgical stock fell 4.4% for its worst day since October 2023 after the company broke its gross profit forecast.
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Last night Boeing warned for a larger than expected loss in the fourth quarter because of a a long strike, Payments relating to US Government projects and expenses associated with a number of job cuts. Shed shares 1.37%.