Wall Street Closes Worst Week Since August

Stocks edged higher on Friday (Saturday, September 9, 2023, in Manila), but not by enough to prevent Wall Street from concluding its first losing week in the last three, as reported by Stan Choe for the Associated Press (AP).

The S&P 500 rose by 6.35 points, or 0.1%, to reach 4,457.49 after experiencing three consecutive days of decline. It incurred a 1.3% loss for the week. I Photo: New York Stock Exchange Facebook

The S&P 500 rose by 6.35 points, or 0.1%, to reach 4,457.49 after experiencing three consecutive days of decline. It incurred a 1.3% loss for the week, which was shortened due to the Labor Day holiday.

The Dow Jones Industrial Average climbed by 75.86 points, or 0.2%, reaching 34,576.59, and the Nasdaq composite added 12.69 points, or 0.1%, reaching 13,761.53.

Such data have pushed yields higher in the bond market, negatively impacting stock prices. However, yields remained relatively stable on Friday, contributing to the calm on Wall Street.

The yield on the 10-year Treasury inched up to 4.26% from 4.25% late Thursday. The two-year Treasury yield, which more closely tracks expectations for the Fed, rose to 4.97% from 4.95%, as also reported by Matt Ott and Elaine Kurtenbach for AP.

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