Tech Drives Stock Rebound at End of Jittery Week: Markets Wrap
- Dimon says Fed could hike 7 times, not be ‘sweet and gentle’
- JPMorgan, Citigroup slide after disappointing trading results
Inside the Tokyo Stock Exchange on Jan. 13.
Photographer: Toru Hanai/BloombergThis article is for subscribers only.
Technology companies led a rebound in stocks at the end of a very volatile week, with investors recalibrating their strategies amid growing calls from prominent voices for higher interest rates.
The S&P 500 erased losses in the final few minutes of trading, while the Nasdaq 100 rose as dip buyers resurfaced after the tech-heavy gauge dropped to its lowest since October. Disappointing trading results from JPMorgan Chase & Co. and Citigroup Inc. weighed on banks, though Wells Fargo & Co. rallied on a bullish forecast for a measure of lending. Treasury yields climbed alongside the dollar.