Stock market today: Dow, S&P 500, Nasdaq slide as inflation, tariff fears push stocks to another losing week
Published On Feb 7, 2025, 4:06 PM
US stocks faced a decline on Friday with concerns over potential tariffs from the Trump administration, rising inflation expectations, and a weaker-than-expected jobs report, which saw 143,000 new jobs added in January. The consumer sentiment index dropped to a seven-month low, contributing to the negative outlook. Major technology stocks, including Amazon, faced significant selloffs due to disappointing revenue forecasts. Overall, the market sentiment is cautious amidst increasing inflation fears and economic uncertainty about job growth.
Stock Forecasts
AMZN
Negative
Due to rising inflation concerns and potential tariffs, significant pressure on the market, particularly in the tech sector, the outlook remains bleak. Amazon's disappointing revenue outlook is a critical warning sign for investors regarding tech stocks.
GOOG
Negative
With President Trump announcing plans for potential tariffs, this negatively impacts the market, particularly consumer sentiment. Companies exposed to these tariffs, especially in the tech and consumer sectors, will likely see share depreciation.
XLY
Negative
The consumer sentiment and inflation outlook data suggests a cautious approach by consumers, which could adversely affect spending and economic growth. This environment is expected to significantly impact sectors linked to consumer discretionary spending, leading to further losses.
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