Wall Street traded slightly lower by midday Friday, as investors adopted a wait-and-see stance ahead of a potential trade breakthrough, with high-stakes negotiations between U.S. officials—led by Treasury Secretary Scott Bessent—and Chinese authorities set to unfold over the weekend.
The “MAGA Seven” are a group of stocks, dubbed by MarketWatch, that have notched significant gains and attention since the election of President Donald Trump. However, the MAGA Seven took a big hit in Monday's market rout. Here's a look at how they performed.
Eleven large-cap stocks performed poorly in the last week. West Pharmaceutical, The Trade Desk, Fidelity National, and others saw significant declines.
The S&P 500 index surged past the 6,000-point milestone, setting fresh record highs, and small-cap stocks are poised for their best weekly performance since April 2024 as investor optimism surrounding the “Trump trade” continued to fuel a strong risk-on sentiment by the end of a wild week in the market.
Federal Reserve Chairman Jerome Powell has dispelled any remaining uncertainty by signaling that the central bank is preparing to shift its monetary policy, effectively paving the way for imminent interest rate cuts.
A worse-than-expected University of Michigan’s May consumer report halted stock gains on Friday, sparking worries about a potential decline in consumer health amid perceived rising price pressures.
