US markets ended what was a busy week all but flat, with the Dow Jones up 0.4% on Friday, the S&P 500 down 0.1% and the Nasdaq down 0.5%.
Across the week, the result was similar with the Nasdaq pulling out a 0.3% gain whilst the Dow and S&P 500 were both down over 0.5%.
Some level of sanity appears to be coming into markets after what has been an eventful start to the year.
With earnings season in the rearview delivering generally positive results, all eyes are on economic data which is far more mixed than expected.
Similarly, to Australia, it is unlikely the Federal Reserve will make any changes in the short-term.
Bitcoin dives
Bitcoin was all the talk last week with the digital asset down over 40% from its high in April.
There are increasing signs that day traders and speculators have moved out of stock markets into crypto, likely contributing to the less volatile conditions seen in recent weeks.
AT&T plans spin-off, NVIDIA’s stock split
Shares in AT&T (NYSE: T) were down over 10% for the week after announcing plans to spin off its WarnerMedia division and cutting its dividend.
Meanwhile, NVIDIA (NASDAQ: NVDA) is capitalising on a strong semiconductor market to undertake a stock split, shares finished the week up 2.6%.
Featured video: Stock splits on The Australian Finance Podcast
US stock market movers
Here’s how popular US stocks closed out the week on Friday.
- Roblox (NYSE: RBLX) up 8.1%
- Ford (NYSE: F) up 6.7%
- Boeing (NYSE: BA) up 3.2%
- Crowdstrike (NASDAQ: CRWD) up 3.2%
- Amazon (NASDAQ: AMZN) down 1.4%
- Apple (NASDAQ: AAPL) down 1.5%
- Alibaba (NYSE: BABA) down 2.7%
- Coinbase (NASDAQ: COIN) down 3.9%
Back home on the ASX, the S&P/ASX 200 (ASX: XJO) is expected to open relatively flat on Monday. For all the latest, check out Rask Media’s ASX 200 morning report.
