Wall Street indexes attempted to rebound in Friday's trading after a sell-off in tech stocks in the previous session. Apple lost its market share in China amid rising competition from Huawei and Vivo. Regions Financial, Citizens Financial, Truist Financial, State Street, and JB Hunt were in focus after their earnings releases.
RF TFC STT CFG JBHT
RF TFC STT CFG JBHT
Wall Street indexes rested a day after registering strong gains as investors debated inflation outlook and rate path in the months ahead. The latest updates on retail sales and weekly jobless claims confirmed resilient consumer spending and strong labor market conditions. The euro hovered near parity with the U.S. dollar, and China's fourth quarter GDP growth is estimated to accelerate to 5%.
Financial markets lacked direction across the Atlantic as investors awaited the release of the U.S. consumer price inflation report on Wednesday. The U.S. dollar continued to advance against major currencies, reflecting speculation that the yield gap between the U.S. bonds and international trade partners is likely to widen.