Stock Market Declines as Inflation Concerns Mount Ahead of Nvidia Earnings
U.S. stocks fell Friday as bond yields jumped higher amid ongoing inflation worries. Investors face uncertainty over Federal Reserve policy while major tech companies prepare to report earnings next week.
Markets Close Lower on Inflation Fears
Stocks closed lower on Friday as inflation concerns and the prospect of Federal Reserve rate cuts weighed on equities and pushed bond yields higher.
Wholesale Inflation Surge
Wholesale inflation jumps 6% in April on annual basis, the biggest increase since 2022.
Tech Sector Movers
Figma stock jumped 9% after the design platform raised its 2026 revenue outlook to between $1.42 billion and $1.43 billion, up from its prior forecast of $1.36 billion to $1.37 billion. Cerebras stock traded lower on Friday morning to follow a stunning 68% pop on its first day of trading. The IPO was priced at $185 per share and opened at $350. The AI chipmaker's shares closed at $311 apiece on Thursday.
Fed Leadership Transition
The Senate confirmed Kevin Warsh as the next leader of the Federal Reserve.