The post Dow Jones struggled to recover ground after going flat on Friday appeared on BitcoinEthereumNews.com.

Dow Jones looking for balance after getting clobbered this week. Investors looking for a foothold after a harsh rebalance of rate cut expectations. US Durable Goods Orders, UoM Consumer Sentiment recovered on Friday. The Dow Jones Industrial Average (DJIA) moderated on Friday, treading water after seeing its second-worst trading day of 2024 on Thursday. The equity index ended flat on the day trading week’s close, with investor sentiment broadly recovering. Read more: US Durable Goods Orders rise 0.7% in April vs. -0.8% expected US Durable Goods Orders in April rose 0.7% MoM, shrugging off the forecast -0.8% decline, while the previous month’s print was revised to 0.8% from 2.6%. The University of Michigan’s Consumer Sentiment Index for May climbed to 69.1 versus the forecast uptick to 67.5 from the previous 67.4. UoM 5-year Consumer Inflation Expectations also eased to 3.0% from the expected hold at 3.1%, putting further upside pressure on market sentiment as investors look for any sign that inflation figures could ease moving forward. Forecasting the Coming Week: Fedspeak and PCE remain in the spotlight Broad-market expectations of Federal Reserve (Fed) rate cuts were knocked back once again this week, and according to the CME’s FedWatch Tool, rate traders are pricing in slightly worse than even odds of at least a quarter-point rate cut from the Fed in September. This is sharply lower than the 70% odds of at least 25 basis points that was priced in at the beginning of the week. Dow Jones news A meager Friday recovery leaves the DJIA the worst-performing of the major US equity indexes, ending Friday close to where it started. Around a third of the Dow Jones’ constituent securities were down on Friday, with losses being led by Salesforce Inc. (CRM). CRM fell -2.2% on the day, declining to $272.29 per share. On the…

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Filed under: News - @ May 25, 2024 2:20 am