#bitcoinhalving #StockMarketTrends

Let's talks about the performance of the stock market on April 18th, 2024. The major stock indexes all went down. S&P 500 lost its gains for the fifth day in a row, the longest losing streak of the year.

NASDAQ is also on a losing streak, and if it closes lower for the week, it will be the fourth straight week, the longest streak since December of 2022. The Dow had been up earlier in the day but gave back all of its gains by the end.

The reason for the market drop is hawkish remarks from Federal Reserve presidents regarding rates. They indicated that there might not be any rate cuts this year. Besides the news about interest rates, Philly Fed manufacturing data came in much stronger than expected. Weekly jobless claims remained unchanged.