S&P 500 ends up, near flat for week after Monday's steep selloff
U.S. stocks gain for the day
Expedia gains after Q2 profit beat
Updates to 4 p.m. ET
By Caroline Valetkevitch
NEW YORK, Aug 9 (Reuters) - The S&P 500 ended higher on Friday and was little changed for the week after clawing back from Monday's steep dive that was prompted by fearsof a recession and unwinding of a global yen-funded carry trade.
The technology sector .SPLRCT led gains in the index for the day, while the Cboe Volatility Index .VIX, Wall Street's "fear gauge", was down on Friday after surging to 65.73 at the start of the week.
On Thursday, Fedpolicymakers expressed confidencethat inflation was cooling enough to allow interest-rate cuts ahead, and will take their cues on the size and timing of those cuts from the economic data.
Monday's big decline followed a sharp sell-off last week as a weaker-than-expected July jobs report sparked recession fears, and the Bank of Japan's decision to hike interest rates on July 31 led to a sharp appreciation in the yen. That resulted in the unwinding of currency carry trade positions in which the yen is used to buy high-yielding assets.
"For most of the last week the negative opinions were driving sentiment and direction and those have been outweighed by a little less pessimism," in recent days, said Michael James, managing director of equity trading at Wedbush Securities in Los Angeles.
But, he said, "there is going to continue to be a significant amount of uncertainty and anxiety hanging over the market for the course of the next month until we get to the next Fed meeting."
Investors see a 55% chance that the Federal Reserve will cut interest rates by 50 basis points at its next policy meeting on Sept. 17-18, with a 25 basis point cut seen as having a 45% probability, according to the CME Group's FedWatch Tool.
According to preliminary data, the S&P 500 .SPX gained 25.11 points, or 0.47%, to end at 5,344.42 points, while the Nasdaq Composite .IXIC gained 85.65 points, or 0.51%, to 16,745.67. The Dow Jones Industrial Average .DJI rose 49.86 points, or 0.13%, to 39,496.35.
Investors also awaitnext week's readings on U.S.consumer prices and retail sales for July, which could provide fresh evidence on the chances of a soft landing for the American economy.
Among individual stocks, videogame publisher Take-Two Interactive Software TTWO.O climbed as it expects net bookings to grow in fiscal years 2026 and 2027.
Expedia EXPE.O also advancedafter the online travel agency beat analysts' expectations for second-quarter profit.
Most S&P 500 sub-sectors set for weekly losses https://tmsnrt.rs/4dg835k
Wall Street's "fear gauge" saw sharp upswings this week https://tmsnrt.rs/4dg7TuG
Additional reporting by Shubham Batra and Shashwat Chauhan in Bengaluru; Editing by Shinjini Ganguli
免責聲明: XM Group提供線上交易平台的登入和執行服務,允許個人查看和/或使用網站所提供的內容,但不進行任何更改或擴展其服務和訪問權限,並受以下條款與條例約束:(i)條款與條例;(ii)風險提示;(iii)完全免責聲明。網站內部所提供的所有資訊,僅限於一般資訊用途。請注意,我們所有的線上交易平台內容並不構成,也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。
所有缐上交易平台所發佈的資料,僅適用於教育/資訊類用途,不包含也不應被視爲適用於金融、投資稅或交易相關諮詢和建議,或是交易價格紀錄,或是任何金融商品或非應邀途徑的金融相關優惠的交易邀約或邀請。
本網站的所有XM和第三方所提供的内容,包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接,皆爲‘按原狀’,並作爲一般市場評論所提供,而非投資建議。請理解和接受,所有被歸類為投資研究範圍的相關内容,並非爲了促進投資研究獨立性,而根據法律要求所編寫,而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊,相關詳情請點擊 這裡查看。