WEEKLY BUSINESS ROUNDUP
Global Business Week: Visualizing the Global Economy in 2050
The state of Financial markets & Economies, Weekly Charts, Business Trends & Statistics
U.S. stocks showed a slight recovery on Friday but ultimately ended the week with losses due to concerns about the Federal Reserve adopting a more hawkish stance, which affected investor confidence. The tech-heavy Nasdaq Composite managed to gain 0.1% on Friday, with Apple attempting to bounce back after a more than 6% decline over the past two days, partly driven by news about China’s ban on the use of iPhones in government agencies.
Meanwhile, the S&P 500, a benchmark index, closed Friday’s session with a 0.1% increase, and the blue-chip Dow finished 0.2% higher. However, for the week, the Dow saw a decline of 0.8%, closing at 34,577, the S&P 500 was down by 1.3%, ending the week at 4,457, and the Nasdaq Composite experienced a 1.9% drop, concluding the week at 13,761.
Recent surges in oil prices in response to extended production cuts by key oil-producing nations like Saudi Arabia and Russia, combined with puzzling labor market data, marked by a fourth consecutive week of declining initial jobless claims, have shifted attention to the upcoming consumer price index (CPI) report…
