Boeing shares dipped on Friday following a warning from the company about a wider-than-expected fourth-quarter loss. In contrast, Verizon saw a rise in its stock price due to upbeat fourth-quarter subscriber additions. American Express shares also fell after the company released its fourth-quarter results.
Adding to market concerns, U.S. business activity hit a nine-month low in January. The Dow Jones Industrial Average dropped by 0.32%, the S&P 500 by 0.29%, and the Nasdaq Composite fell by 0.50%. In a significant geopolitical move, President Donald Trump announced new tariffs on Canada, Mexico, and China, further contributing to market volatility.
Mixed Wall Street response to data
The upcoming Federal Reserve meeting next week is set to be closely watched by investors for any signs of changes in monetary policy. Wall Street stocks declined on Friday, weighed down by mixed data and corporate earnings ahead of this crucial meeting.
Investors are poised for a busy week ahead with corporate earnings and the Federal Reserve meeting taking center stage. The market will be looking for additional guidance on monetary policy and any indications of changes in interest rates. Despite the retreat on Friday, excitement toward Trump’s pro-business policies has largely pushed risk assets higher this week.
Investors have focused on his inauguration and were relieved that there have only been threats, rather than formal actions, regarding tariffs. Overall, the stock market showed resilience this week as optimism surrounding President Trump’s policies provided support, despite some profit-taking on Friday.
