Discover Why Wall Street Suffers a Week of Losses in Uninspiring Market Performance

The stock market ended Friday with modest gains, but the benchmark S&P 500 experienced its first losing week in the past three.

• On Friday, the S&P 500 increased by 6 points to reach 4,457.
• The Dow also rose by 75 points, reaching 34,576.
• The Nasdaq increased by 12 points, reaching 13,761.
• According to CNBC, the S&P and the Dow were down about 1% or more for the week, while the Nasdaq fell about 2%.

Many companies have already finished reporting their earnings for the spring season, with a few making significant moves on Friday, as reported by the AP. Smith & Wesson Brands experienced an 11.9% jump in stock prices after reporting stronger than expected results for the three months leading up to July. Kroger also saw a 4.3% increase after fluctuating between gains and losses following its earnings report. Although the grocer’s latest quarter results exceeded analysts’ expectations, its revenue fell short. To secure approval for a proposed merger, the company has announced an agreement with Albertsons to sell some stores, private-label brands, and other assets. Kroger has also announced a settlement for over $1.2 billion to resolve the majority of claims related to opioids.

The upcoming week is expected to be eventful for global markets, with the highlight being the latest monthly update on inflation in the US, scheduled for Wednesday. Economists predict that prices at the consumer level will be 3.6% higher in August compared to the previous year. Although inflation has been decreasing since its peak above 9% last summer, there is concern that reaching the Federal Reserve’s 2% target may be challenging. Strong economic reports have been unsettling the market as they indicate increased spending by US households, which could prompt companies to push prices up further.

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