Stocks wobbled to a combined shut on Wall Street Friday, however each main index notched weekly positive aspects in a holiday-shortened week.
Investors confronted a comparatively quiet day, although issues about inflation, excessive rates of interest and a possible recession nonetheless hover over Wall Street. Markets had been closed on Thursday for the Thanksgiving vacation and closed at 1 p.m. Friday.
The S&P 500 fell 1.14 factors, or lower than 0.1%, to shut at 4,026.12. Nearly 70% of shares within the benchmark index gained floor, however the broader market was dragged decrease by know-how corporations. High valuations for corporations within the know-how sector have a tendency to offer it extra heft in pushing the market increased or decrease.
The Dow Jones Industrial Average rose 152.97 factors, or 0.4%, to 34,347.03. The Nasdaq fell 58.96 factors, or 0.5%, to 11,226.36.
FCC bans gross sales, import of tech from Huawei, ZTE
The U.S. is banning the sale of communications tools made by Chinese corporations Huawei and ZTE and limiting the usage of some China-made video surveillance programs, citing an “unacceptable risk” to nationwide safety.
The 5-member Federal Communications Commission stated Friday it has voted unanimously to undertake new guidelines that may block the importation or sale of sure know-how merchandise that pose safety dangers. It’s the newest in a years-long escalation of U.S. restrictions of Chinese know-how that started with President Donald Trump and has continued underneath President Joe Biden’s administration.
Source: www.bostonherald.com”