US stocks slip lower after volatile week, focus on inflation data, crude prices rise

From Investing.com: 2024-08-09 09:35:31

U.S. stocks slipped slightly on Friday after rebounding sharply on Thursday. Wall Street indexes are down on the week, with the S&P 500 and Nasdaq heading towards their fourth consecutive losing week. Market focus is turning to key inflation data next week as traders anticipate a Federal Reserve interest rate cut in September. Crude prices edged higher on Friday, set for hefty weekly gains due to improving sentiment towards the U.S. economy and geopolitical tensions boosting prices.

Paramount Global surged after announcing job cuts, while Expedia and ELF Beauty also reported earnings. Array Technologies, meanwhile, saw a slide in stock price after lowering its annual guidance.



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