Tag: Jack Hough

Dow slips, Nasdaq posts record high on mixed day of trading

Dow slips, Nasdaq posts record high on mixed day of trading

The tech-heavy Nasdaq hit another record high Monday, while the Dow slipped amid weakness in financial and industrial stocks.
The Dow Jones Industrial Average fell 157.13 points, or 0.62%, to 25,178.61.
The S&P 500 edged 3.55 points lower, or 0.13%, to 2,783.02.
On Friday, the nine-year anniversary of the bull market was boosted by an employment report showing a much larger than expected 313,000 jobs were added to payrolls in February, with economists expecting 200,000 jobs.
The unemployment rate stayed at 4.1%, a 17-year low.
The U.S. economic calendar this week will include inflation reports, with the consumer price index on Tuesday and the producer price index and a reading on retailing sales on Wednesday.
European finance ministers are expected to discuss President Donald Trump’s plan to impose steel and aluminum tariffs.
On tap next week is the Federal Reserve’s decision on interest rates.
“As the week rolls on, apart from finding out just how deep the fear runs over Trump’s tariff plans at the EU finance ministers meeting on Tuesday, there is likely to be a focus later in the week on U.S. macro data as Tuesday has the CPI readings released,” said James Hughes, chief market analyst at AxiTrader.
“Ahead of next week Fed rate decision, inflation will, of course, be closely watched, and remains a key battleground and sticking point on a decision to hike rates either three or four times in 2018.”