*By Kavitha Shastry* Another roller coaster day on Wall Street saw markets roar out the gate Friday, with the Dow Industrials opening up 400 points, giving back all those gains and then some by midday, and ultimately closing up a little more than a percent. The rally wasn't enough to fully erase the pain investors felt earlier in the week, though, and major indexes posted their biggest weekly losses since March. "Right now there's a bit of a tug of war ー are we heading into a bear market or is this just a normal correction?" asked Jason Browne, chief investment strategist at Fund-X. "It's still way early to know." Tech stocks were able to recoup some of their losses Friday, with the so-called FAANG names adding back almost $100 billion to their collective market cap ー about half of what they lost over the previous two days. The sell off comes just before third quarter earnings season kicks off in earnest, with Netflix ($NFLX) set to report after the bell next Tuesday. "Anything negative is going to be a real problem right now," Browne said. "In general you're going to have to hear a little bit about, what is the impact, if anything, that rising rates are having on consumers? What is the impact trade wars are having on supply chains? What do they think about input costs?" U.S. interest rates have risen to their highest levels in more than seven years, sending shares of homebuilders Toll Brothers ($TOL) and Lennar ($LEN) down on the fear of rising mortgage costs. As for tariffs, retailers from Walmart ($WMT) to the Gap ($GPS) to Jessica Alba's The Honest Company have all said rising costs may lead to higher prices. But if companies indicate they'll be able to absorb these costs, Browne said, "that'll help the market hopefully find some footing." For full interview [click here](https://cheddar.com/videos/market-week-in-review-2).

Share:
More In Business
Klarna shares jump 30% on Wall Street debut
Swedish buy now, pay later company Klarna is making its highly anticipated public debut on the New York Stock Exchange Wednesday, the latest in a run of high-profile initial public offerings this year. The offering priced at $40 Tuesday, above the forecasted range of $35 to $37 a share, valuing the company at more than $15 billion. The valuation easily makes Klarna one of the biggest IPOs so far in 2025, which has been one of the busier years for companies going public. Other popular IPOs so far this year include the design software company Figma and Circle Internet Group, which issues the USDC stablecoin..
Musk loses crown as world’s richest to software giant Larry Ellison
Oracle co-founder Larry Ellison wrested the title of the world’s richest man from longtime holder Elon Musk early Wednesday as stock in his software giant rocketed more than a third in a stunning few minutes of trading. That is according to wealth tracker Bloomberg. A college dropout, the 81-year-old Ellison is now worth $393 billion, Bloomberg says, several billion more than Musk, who had been the world’s richest for four years. The switch in the ranking came after a blockbuster earnings report from Oracle. Forbes still has Musk as the richest, however, valuing his private businesses much higher.
Load More