Stock Market Loses Steam Heading into Friday Trading Session

Friday could be a quiet day for the US stock markets, with all three major indices closing low on Thursday night.

The Dow Jones Industrial, just off a lengthy positive streak, is down 0.10%, having lost 38 points. The S&P 500 lost 0.21%, and the Nasdaq Composite fell by 0.26%.

The market looks to be opening flat for Friday, gearing up for a mild day of trading. We do expect most stocks to retain their gains from Wednesday, as inflation news from the CPI still looks good and has yet to be countered.

Look out for statements from several FOMC members very soon, including Waller, who will be speaking today. We anticipate some comments on interest rates and whether they might be coming this year or not, as well as statements on the state of the US economy and inflation.

Even though the stock market has had a decent week so far and the Dow Jones did very well last week, any negative inflation news could hurt the market severely and set it back quite a bit.

Still to Come This Week

Today is the last day of trading for the week, but there are still a few items to look out for. Boeing will decide whether to keep its CEO, as the company is currently under fire and under investigation.

We expect to see movement from some of the major shakers and movers on the market, including Walmart, Tesla, and Google, which have all had quarterly earnings reports recently and have moved substantially in the past week or two.

The market is still dealing with the aftereffects of the US Consumer Price Index report, which demonstrated that inflation was not as bad as economists thought, and there looks to be some indication that the economy is improving and inflation is slowing down.