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VOL. 48 | NO. 1 | Friday, January 5, 2024
Wall Street inches higher but still marks its first losing week in the last 10
NEW YORK (AP) — Wall Street drifted to a higher close but still marked its first losing week in the last 10.
The listless trading followed reports showing workers are getting bigger raises, but also that key parts of the economy still don't look like they're overheating.
The S&P 500 rose 0.2% Friday. The Dow edged up 25 points, and the Nasdaq rose 0.1%.
Treasury yields initially jumped after a report showed the job market strengthened more than expected. That raised worries the Federal Reserve could keep interest rates high.
Another report said growth for services businesses slowed, and traders rebuilt bets for the first cut to rates to come in March.