Wall Street Snaps 9-Week Winning Streak

Stocks in the US finished a volatile session flat on Friday, as traders digest the latest economic data and assess the future path of the US monetary policy. All the major indexes ended near the flatline, halting a 9-week win streak, with the Nasdaq 100 booking its six-day of losses. Fresh data showed that in December the US economy added 216K payrolls, way above estimates of 170K, while wages accelerated to lift Treasury yields and scale back the extent of rate cuts projected by the Fed this year. Among stocks, Nvidia and AMD shares pulled through the volatility to add over 1.8% each. Airlines rebounded for a second day in a row, breaking a seven-day losing streak, following the Japan Airlines crash in Tokyo. American Airlines, Delta and United gained over 3.1%. Conversely, healthcare shares underperformed, with a 1.5% decline for United Health. The S&P and the Nasdaq wrapped up the week 1.8% and 3.8% lower, respectively, and the Dow Jones lost 0.7%.

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