Markets

Wall Street ends week higher but posts monthly loss

Wall Street ends week higher but posts monthly loss

USA stocks rose on Thursday as technology shares recovered some lost ground in a roller coaster week for Wall Street. The Russell 2000 index of smaller-company stocks picked up 6 points, or 0.4%, to 1,519.

Facebook was among the gainers, its shares adding 4.4 percent. "That has led to market volatility and we'll see more of that", said Mark Esposito, president of Esposito Securities LLC.

"In general, the market is trapped between two narratives".

"People are anxious about rising interest rates".

Core personal consumption expenditures price index, the Federal Reserve's favored inflation gauge, rose 1.6 percent on an annualized basis through February, in line with economists' expectations. The index, the Federal Reserve's preferred measure of inflation, has been below the USA central bank's 2 percent target since mid-2012.

All three major US indexes ended the day in negative territory following Tuesday's late-session tech-driven sell-off following Monday's rally as traders moved to defensive stocks after recent weeks' heightened volatility.

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The Dow Jones Industrial Average rose 121.89 points, or 0.51 percent, to 23,970.31.

Still, the S&P 500 and the Dow are on track to log their worst quarter in more than two years on concerns over a global trade war and aggressive interest rate hikes, as well as a rout in technology stocks caused by the Facebook data scandal.

The year started strong, but early gains evaporated as the markets entered a correction over interest rate jitters, fears of an escalating import tariff dispute between the United States and China, and a selloff in the tech sector.

GameStop (GME.N) shares fell 10.8 percent after the company provided disappointing full-year sales forecast. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc.