real-time news and commentary for investors
Friday, Sep 27
Stocks fall, finish first weekly drop in a month
- Stocks fell to cap their first weekly loss in a month, as the market is narrowly focused on the prospect of a partial government shutdown next week - which is just a prelude to the difficult chore of raising the debt ceiling a few weeks later.
- Materials and telecom stocks led declines in all 10 S&P 500 sectors; for the week, consumer discretionary and financial shares were laggards.
- The Nasdaq outperformed today and throughout the week, fueled by biotechs as the top biotech ETF trades near its all-time high.
- Treasurys resumed their move higher, pushing the benchmark 10-year yield lower by four bps at 2.621%.