Wall Street Momentum Stalls After Thursday's Rally, Palantir Jumps To 3-Year Highs, Bonds Rally: What's Driving Markets Friday?
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Wall Street cooled off on Friday after the S&P 500's strongest session in nearly two years.Long-dated U.S. Treasury bonds saw renewed demand, pushing yields down by 6 basis points.
After a blistering Thursday that saw the S&P 500 close with its best session in nearly two years — up 2.3% — Wall Street’s price action turned sluggish on a Friday lacking market-moving economic events.
By midday in New York, major indices were slightly positive or hovering around the flat line, signaling a slowdown in the bullish sentiment compared to the previous session.
Since the beginning of the week, the S&P 500 is down 0.5%, with a few hours of trading left to determine whether the U.S. stock market can avoid closing in the red for the fourth consecutive week.
