PCE data released before the opening bell also provided some relief to investors as the price index marked its first decline in four months. Data from the CME FedWatch Tool shows the data reinforced bets for approximately two quarter-point cuts to the Fed funds rate in 2025.
Read More: Federal Reserve’s Preferred Inflation Gauge Marks First Slowdown In 4 Months (UPDATED)
The yield on the 10-year U.S. Treasury note was down to 4.25% on Friday, after falling more than 15bps this week to its lowest level in over two months. Personal spending unexpectedly slipped in January while income soared, and tariff concerns continued to weigh against prospective future growth.
The iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT) rose 0.31%.
Cryptocurrencies continued to sell off Friday as a sharp decline in investor sentiment gripped the market after Bitcoin (CRYPTO: BTC) fell below $79,000 late Thursday, down 24% from its January peak of $109,590.
Friday’s Performance In Major U.S. Indices, ETFs
According to Benzinga Pro data:
Friday's Stock Movers:
Shares of vaccine-maker Novavax, Inc. (NASDAQ:NVAX) climbed on heavy volume Friday after the company reported smaller fourth-quarter losses and announced a shift in corporate strategy away from its COVID-19 vaccine.
Stocks reacting to company earnings reports included:
Companies reporting earnings on Monday include:
Read Next:
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