Wall Street slips, breaking an 8-day winning streak for stocks
LA TimesPedestrians pass the New York Stock Exchange. It is one of Wall Street’s most influential stocks because a frenzy around artificial intelligence technology has made it one of the U.S. stock market’s most valuable companies at roughly $3 trillion. Expectations aren’t that high this time around, with nearly everyone already in agreement the Fed will begin cutting interest rates next month. A surprisingly weak report on hiring by U.S. employers last month raised worries the Fed has already kept interest rates too high for too long, but ensuing reports on inflation, retail sales and other data helped bolster optimism. Tokyo has been home to some of the world’s most vicious moves for financial markets recently after the Bank of Japan raised interest rates there last month.