- U.S. equities finished the week with steep declines as higher-than-expected inflation raised further concerns the Federal Reserve may continue to implement hawkish actions
- A few notable companies to mention include Microsoft which declared it will soon publicly disclose salary ranges for all U.S. job postings, making it one of the first major employers to take this step. Target warned future profits would further drop because it needs to either cancel orders or offer discounts to clear out unwanted items in lieu of others in higher demand. The major retail giant also claimed recent supply chain setbacks caused some goods to arrive past the ideal selling window, impacting sales’ figures
- All sectors of the S&P 500 declined. Energy was down under 1% buoyed by a small increase in oil prices. On the other hand, higher interest rates hurt many companies in that near-term profits may be hard to come by because of financing challenging. Example sectors with affected companies include financials and
technology which both fell more than 6% last week
- Small-cap stocks marginally outpaced large-caps and value slightly led growth, but no segment of the broad market was spared from volatility as seen in the matrix above.