Stocks Mixed Before Next Week's Fed Rate Report: Markets Wrap
- Dollar climbs, gold sinks on Kudlow remarks; yen gains again
- Investors weigh mixed outlook on trade, Fed policy trajectory
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U.S. stocks ended mixed Thursday, as industrial and tech gains were offset by losses in the consumer and energy sector. Ten-year Treasury yields steadied after briefly sinking below 2.80 percent as traders look forward to next week’s Federal Reserve policy decision.
With volume running about 17 percent below average, the S&P 500 Index notched its longest losing streak of 2018 -- four days. The Empire Manufacturing Index exceeded projections and initial jobless claims came in just below estimates, signaling continuing strength in the U.S. economy. While an increase in borrowing costs at the Fed meeting is seen as a done deal, it remains an open question whether U.S. policy makers will lift their expectations for the pace of future increases.