The S&P 500 and other major indexes slid on Thursday but recovered on Friday to wrap up the week to the upside.
The Dow Jones broke a 13-day winning streak Thursday, its best since 1987, and was up 0.65% on a weekly basis Friday. The Nasdaq Composite posted a weekly gain of 1.67%.
The Fed decided to relaunch its rate-hike campaign at the latest FOMC meeting, pushing the federal funds rate to 5.25%-5.5%. The cost of borrowing is now at its highest level since 2001. Fed ChairJerome Powell didn't discard the possibility of a new hike in the upcoming September FOMC meeting...
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