Paragraph-sc-9v7nwy-2 dCwndB”>Despite the decline, the stock market managed to end the week on a positive note. The Dow climbed 400 points, equivalent to a 1.2% increase. The S&P 500 saw a 0.8% gain, while the Nasdaq Composite rose by 0.3%.
Paragraph-sc-9v7nwy-2 dCwndB”>During the company’s post-earnings conference call, CEO Jamie Dimon cautioned investors to brace themselves for prolonged high interest rates.
Paragraph-sc-9v7nwy-2 dCwndB”>Federal Reserve Governor Christopher Waller emphasized the need for further tightening of monetary policy, adding pressure on the markets.
Paragraph-sc-9v7nwy-2 dCwndB”>On a different note, retail sales data showed a more significant decline than anticipated, indicating a weakening spending power and economic conditions in the US.
Paragraph-sc-9v7nwy-2 dCwndB”>Edward Moya, senior market analyst at OANDA, expressed concerns about the potential impact of the Fed’s actions, stating that the market could suffer further consequences.
Paragraph-sc-9v7nwy-2 dCwndB”>While stock values are currently settling post-trading hours, slight adjustments may still occur.