Stocks End Week Lower on Hot Inflation Data
-
US stocks closed lower on Friday after a hotter-than-expected inflation report raised concerns the Fed may delay rate cuts. The S&P 500 dipped 0.5% while the Dow fell 0.4%.
-
Coinbase shares surged over 14% after posting its first quarterly profit in two years amid a rebound in crypto trading. Applied Materials stock also jumped on an upbeat outlook.
-
Roku shares plummeted over 20% on concerns over advertising market weakness and competition from tech giants like Amazon.
-
Commercial real estate firm CBRE said the office market may have bottomed out as companies pressure employees to return to the office.
-
Nike announced plans to cut about 1,600 jobs, or 2% of its workforce, as part of a $2 billion restructuring aimed at boosting profits over the next few years.