Thursday, August 11, 2022

US stocks closed lower after five-day winning streaks


Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at

U.S. stock indexes on Friday closed lower after five-day rally despite optimism on US-China trade talks.


Earlier on Friday, a reading of December inflation, the consumer-price index slipped 0.1%, to mark the first decline in nine months, the Labor Department said on Friday. Furthermore, the shutdown impact.


The Dow Jones Industrial Average DJIA, -0.02%, or -5.97%, to 23,995,95.


The S&P 500 index SPX, -0.01%, or -0.38%, to 2,596.26, and the Nasdaq Composite COMP, -0.30%, or -19.55%, to 6,601.40.

Government shutdown to mark the longest on record in its 22nd day on Saturday.


Investors may take greater notice but thus far US stocks investors have adored solid gains.


Upcoming week, bank earnings from Citigroup and JPMorgan Chase & Co. JPM, -0.02% among others, mark the unofficial start of earnings season, which may offer fresh clues about the health of American corporations.


In the interim, General Motors GM said it has increased its profit guidance for 2018 and estimated a stronger performance in 2019.



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