US Stock Market Ends Week in the Red Amid Economic Uncertainty
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Major US stock indices closed lower on Thursday, extending recent volatility as investors weighed mixed economic signals and corporate earnings reports. The S&P 500 fell 0.6%, the Dow Jones Industrial Average dropped 0.4%, and the tech-heavy Nasdaq Composite declined 0.8%, marking a second consecutive day of losses across all three benchmarks. Market sentiment appeared cautious following fresh labor market data showing a slight uptick in unemployment claims, while Federal Reserve officials continued signaling a patient approach to interest rate cuts. The financial sector underperformed after several regional banks reported weaker-than-expected earnings, offsetting gains in energy stocks tied to rising oil prices. Analysts note the pullback reflects ongoing recalibration of expectations after last week's record highs. 'We're seeing typical mid-summer consolidation,' said Mark Johnson of Morgan Stanley. 'Investors are parsing whether we're facing a temporary slowdown or more persistent economic softening.' Additional pressure came from the bond market, where 10-year Treasury yields climbed to 4.3%, making equities less attractive by comparison. The CBOE Volatility Index (VIX) rose 12%, indicating heightened near-term uncertainty. Asian and European markets followed suit in Friday trading, with Japan's Nikkei 225 and Germany's DAX both opening 0.5% lower. Traders now await next week's critical inflation data and major bank earnings for clearer directional signals.
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