US stocks inch higher, dollar rebounds as rate cut fever wanes

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Key Points

NEW YORK (Reuters) -U.S. stocks were mixed while the dollar rebounded and Treasury yields steadied near multi-month lows on Friday as market participants caught their breath near the end of a week loaded with central bank policy decisions and crucial economic data...

Euphoria over the U.S. Federal Reserves dovish pivot was dampened a bit after New York Federal Reserve President John Williams pushed back against rate cut expectations, reiterating that the central bank remains focused on bringing inflation down to its 2% target...

Having oscillated for much of the session, the S&P 500 and the blue-chip Dow were last modestly lower, while interest rate-sensitive tech- and tech-adjacent momentum stocks buoyed the Nasdaq into positive territory...

All three indexes are on course to register their seventh consecutive weekly gains, which would mark the S&P 500s longest streak of weekly gains since September 2017...

Oil prices eased back from the previous sessions sharp gains with U.S. crude settling 0.21% lower at $71.43 per barrel, while Brent settled at $76.55 per barrel, down 0.08% on the day...

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