TELETRADER News
5/20, 10:01 PM (Source: TeleTrader)
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US closes mostly flat with inflation in focus

Major stock markets on Wall Street traded mostly flat at the closing session on Friday, extending their weekly losses with inflation causing the negative sentiment. Federal Reserve Bank of St. Louis President James Bullard predicted that the economy of the United States will grow up to 3% this year, noting that a recession is unlikely to occur in the upcoming period.

Meanwhile, the Pentagon underlined there was no evidence of the Russian military using laser weaponry in the military operation in Ukraine, while Moscow confirmed its forces have seized control over the Azovstal steel plant in Mariupol.

The S&P was flat at the closing bell, extending its losing trend to the seventh week, the longest losing streak since last year. The Dow Jones Industrial Average index stood flat after a week of sharp losses. The Nasdaq 100 plunged 0.34% with Ross Stores Inc. pulling the index down by 22.47%.

The euro was 0.34% lower compared to the dollar, going for $1.05543 at 4:04 pm ET.

Baha Breaking News (BBN) / AB