Friday's big stock stories: What's likely to move the market in the next trading session
The major averages slid for the fourth straight session on Thursday, dragged lower by a jump in Treasury yields and oil prices.
TL;DR
- The 30-year fixed mortgage rate exceeded 7% on Thursday, causing declines in housing stocks.
- Energy stocks are the only S&P sector in positive territory this week, with oil prices up approximately 12%.
- Oracle reported earnings above estimates, with its shares rising in extended trading.
- Consumer Price Index (CPI) data, a key inflation indicator, is set to be released Friday morning.
- Kroger is also scheduled to report its earnings on Friday morning.