100s of titles, one news app for just $10 a month.
Dive Deeper:
Markets Obliterated Following Wednesday's Historic Fed Rate Hike
U.S. indices fell sharply wire-to-wire Thursday in the aftermath of Wednesday's historic rate hike by the Federal Reserve.
Markets Stage Big Rally Following Historic 50 Basis Point Rate Hike
U.S. indices rallied sharply into Wednesday's close after the Federal Reserve announced it would raise the key interest rate by…
Dow Jones Futures Fall After Stocks Plunge, Treasury Yields Soar In Delayed Fed Reaction
Treasury yields surged in a delayed reaction to the Fed meeting. Stocks dived, wiping out Wednesday's market rally.
Dow Jones Futures Tumble As Market Correction Extends Losses; Why Apple Is An 'Absolute Loser'
The market correction suffered a violent sell-off late in the week. Apple is a relative winner but an absolute loser.
One subscription that gives you access to news from hundreds of sites
If You Invested $100 In SPY, Apple Or Amazon When Fed Last Hiked Rate By 0.5%, Here's How Much You'd Have Now
The U.S. Federal Reserve raised interest rates by 0.5% in more than two decades on Wednesday.  The target fed funds…
Dow Jones Sells Off After Big Stock Market Rally; Elon Musk Receives New Financing For Twitter
The Dow Jones Industrial Average dropped Thursday after Wednesday's big gains. Elon Musk received more financing for his Twitter deal.
Get all your news in one place
Latest Business news:
Jeff Bezos Lashes Out at Joe Biden and The Democrats
Amazon founder had previously avoided public tussles with the federal government.
Read news from The Economist, FT, Bloomberg and more, with one subscription
Learn More
Renault hands Russian assets to Moscow
Moscow (AFP) - French automaker Renault has handed over its Russian assets to the Russian government, both parties announced Monday,…
National Carrier to Be Privatized, PM Says: Sri Lanka Latest
Debt-ridden Sri Lanka will privatize its state-run national carrier, Sri Lankan Airlines, Prime Minister Ranil Wickremesinghe said in a televised…
Bitcoin recovers above $30,000, other crypto prices today also surge; Terra cracks 31%
Cryptocurrency Bitcoin staged a modest recovery and was up more than 2%
Elon Musk Takes a Stand in Controversial Disney Copyright Case
The copyright debate has recently been revived by a bill seeking to reduce the term of protection for original works.
From analysis to good news, read the world’s best news in one place
Facebook changing with times a decade after stock debut
San Francisco (AFP) - Facebook boss Mark Zuckerberg rang the opening bell remotely to cheers 10 years ago as the…
WA craft brewer Boston Brewery creates wet hop beers to help sustain farms
WA craft brewers are experimenting with wet hop beers that can only be made using freshly harvested, local hops. It…

Markets Close Turbulent Week On A Down Note

By Henry Khederian

The S&P 500 traded lower in a roller coaster week on Wall Street as investors digested another Federal Reserve interest rate hike and a mixed batch of earnings reports.

On Wednesday, the Federal Reserve announced it’s raising its fed funds interest rate target by 0.5% to a new range of between 0.75% and 1%. The decision marked the first time the Fed has issued a rate hike of 0.5% or larger in more than 20 years.

The stock market experienced extreme volatility following the interest rate hike. The Wednesday announcement triggered a 900-point relief rally in the Dow Jones industrial average on Wednesday, its best single-day performance since 2020. Unfortunately, the Dow lost more than 1,000 points on Thursday, its worst single-day loss since 2020.

On Friday, the Labor Department reported the U.S. economy added just 428,000 jobs in April, beating economist estimates of 400,000 jobs. The Labor Department also revised its previous jobs estimates for February and March lower by a total of 39,000 jobs.

WTI crude oil prices climbed above $108 per barrel on Friday for the first time in over a month on concerns that a new round of European Union sanctions on Russian oil could further restrict a tight global oil supply.

  • The Nasdaq composite finished lower Friday by 1.40% to 12,144; The Invesco QQQ Trust Series 1 (NASDAQ:QQQ) lost 1.20% to $309.25

  • The S&P 500 traded lower by 0.56% to 4,123; The SPDR S&P 500 ETF Trust (NASDAQ:SPY) lost 0.60% to $411.34

  • The Dow Jones composite finished lower by 0.38% to 11,300; The SPDR Dow Jones Industrial Average ETF Trust (NASDAQ:DIA) finished lower by 0.35% at $329.07

Here are the day's winners and losers from the Dow Jones, according to data from Benzinga Pro.

Chevron Corporation (NYSE:CVX), Amgen, Inc. (NASDAQ:AMGN) and IBM Common Stock (NYSE:IBM) were among the few gainers.

Nike Inc (NYSE:NKE), Walmart Inc (NYSE:WMT) and Walt Disney Co (NYSE:DIS) were among the top losers.

Elsewhere On The Street

The Formula One racing league announced a renewal with a major media company this week, posted earnings results and is preparing for a race in the U.S., a territory that has seen huge growth. Here’s the latest… Read More

Interest rates are skyrocketing. The speed and rate of the recent move higher in 10-year U.S. Treasury yields is unprecedented… Read More

Cathie Wood-led Ark Invest Management on Thursday sold a bulk of the shares it held in Twitter Inc (NYSE:TWTR)... Read More

Wayne Duggan contributed to this report.

What is inkl?
The world’s most important news, from 100+ trusted global sources, in one place.
Morning Edition
Your daily
news overview

Morning Edition ensures you start your day well informed.

No paywalls, no clickbait, no ads
Enjoy beautiful reading

Content is only half the story. The world's best news experience is free from distraction: ad-free, clickbait-free, and beautifully designed.

Expert Curation
The news you need to know

Stories are ranked by proprietary algorithms based on importance and curated by real news journalists to ensure that you receive the most important stories as they break.

Dive Deeper:
Markets Obliterated Following Wednesday's Historic Fed Rate Hike
U.S. indices fell sharply wire-to-wire Thursday in the aftermath of Wednesday's historic rate hike by the Federal Reserve.
Markets Stage Big Rally Following Historic 50 Basis Point Rate Hike
U.S. indices rallied sharply into Wednesday's close after the Federal Reserve announced it would raise the key interest rate by…
Dow Jones Futures Fall After Stocks Plunge, Treasury Yields Soar In Delayed Fed Reaction
Treasury yields surged in a delayed reaction to the Fed meeting. Stocks dived, wiping out Wednesday's market rally.
Dow Jones Futures Tumble As Market Correction Extends Losses; Why Apple Is An 'Absolute Loser'
The market correction suffered a violent sell-off late in the week. Apple is a relative winner but an absolute loser.
One subscription that gives you access to news from hundreds of sites
If You Invested $100 In SPY, Apple Or Amazon When Fed Last Hiked Rate By 0.5%, Here's How Much You'd Have Now
The U.S. Federal Reserve raised interest rates by 0.5% in more than two decades on Wednesday.  The target fed funds…
Dow Jones Sells Off After Big Stock Market Rally; Elon Musk Receives New Financing For Twitter
The Dow Jones Industrial Average dropped Thursday after Wednesday's big gains. Elon Musk received more financing for his Twitter deal.
Get all your news in one place