2/17, 10:00 PM (Source: TeleTrader)
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US closes mostly lower as investors fear more rate hikes

US stock markets closed mostly lower on Friday as investors fear more interest-rate hikes by the Federal Reserve are likely to come. The week closes with mixed feelings after the latest economic data may indicate that inflation has not entirely subsided.

Today, Federal Reserve Governor Michelle Bowman stressed that the central bank is "not seeing what" it needs "to see in terms of inflation," and the numbers are "jumping around a bit." Yields on the 10-year and 2-year US Treasury bonds reached levels not seen since November, while on the commodities side, natural gas futures dropped below $2.3/MMBtu, the lowest level since September 2020.

At the close, the Dow Jones gained 0.39%, with Merck&Go rising 2.81%. However, the Nasdaq 100 fell 0.68%, with Airbnb leading the losses, decreasing by 5.61%, and the S&P 500 declined 0.28%, as Albemarle dropped by 9.67%.

At 3:57 pm ET, the euro improved by 0.19% against the dollar, selling for $1.06938.

Baha Breaking News (BBN) / JG