All three major averages are on track for a losing week.
All three major averages are set to break multi-week win streaks. The Dow and S&P 500 have lost 1% and 0.6%, respectively, since the start of the week. The Nasdaq is down 0.4%, on pace to snap an eight-week win streak and post its worst weekly stretch since April.
"The markets have been under a bit of pressure since the press conference and news release of the Fed the other week stating that they are not going to increase interest rates at this time, but are likely to increase rates again 1-2 times later this year," said Yung-Yu Ma, chief investment strategist at BMO Wealth Management.
These developments have given the market a "breather" as investors "come to terms" with the ongoing outlook for the central bank's hiking campaign, he added. A relatively light week for economic data continues Friday with S&P Global PMI composite data for June. Earnings are on deck from
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