US stocks mixed near end of volatile week
<p>New York: Wall Street stocks were mixed early Friday at the end of a volatile week marked by unease over rising US inflation and hefty artificial intelligence spending.</p> <p>Appearing at the IMF-World Bank Annual Meetings in Bangkok, Federal Reserve Chief Kevin Warsh said the global economy had showed unexpected "resilience" against economic shocks, including the rise in energy prices due to…
New York experienced a volatile week on Wall Street, with stocks mixed as the market grappled with concerns over rising US inflation and significant AI spending. Federal Reserve Chief Kevin Warsh appeared at the IMF-World Bank Annual Meetings in Bangkok, praising the global economy's resilience against economic shocks, including the energy price surge due to the US-Iran war. However, Warsh did not provide any clues about the Federal Reserve's October monetary policy meeting intentions.
The Dow Jones Industrial Average opened at 52,566.45, up 0.8 percent after about 20 minutes of trading. The S&P 500 added 0.1 percent to 7,747.88, while the Nasdaq Composite Index fell 0.6 percent to 26,554.90. Adam Sarhan of 50 Park Investments noted that inflation reports this week revealed pricing pressures were "still a concern," particularly if the Fed raises interest rates significantly.
Among individual stocks, Netflix suffered a 1.9 percent drop following the announcement that it was replacing content leader Bela Bajaria with Peter Rice. Additionally, the company is set to lay off around 1,000 employees. CoreWeave, a major player in AI data centers, plummeted 6.8 percent amid worries about its substantial debt burden.
Written by urgent.news from The Peninsula Qatar Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
