Market Recap – August 25th
On Friday’s trading day, markets started lower as investors continued to fight recent selloffs from this month. After reaching year-long highs in the previous month, investors feared both higher interest rates and increased speculation which has led to steep drops throughout August. As earnings season and economic data continue to unfold, investors hope a robust economy will lead to a soft-landing, despite the twenty-year high interest rates. For the broad indices, the S&P 500 grew 0.67%, the NASDAQ Composite went up 0.94%, and the Dow Jones rose 0.73%. Alongside the gains in the indices, popular toy manufacturer Hasbro climbed 5.66%, making that 9% for the week as several notable analysts have increased their price targets for the firm. On the downside, however, was fashion retailer Nordstrom, sinking 7.73% due to a relatively weak sales year even after beating both revenue and earnings expectations.
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I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.