S&P 500 ends lower as Microsoft recedes from record high

The S&P 500 and Nasdaq ended the week lower due to Microsoft and other market heavyweights, as comments made by two Federal Reserve officials cast doubt on the central bank’s plan to end aggressive interest rate hikes. Despite concerns about further rate hikes, economic data confirmed lower inflation, supporting the indexes. While Fed policymakers attempted to cool optimism, traders see the possibility of a pause or rate cut in December following the expected rate hike in July, according to CMEGroup’s Fedwatch tool. The S&P 500 fell 0.36%, while the Nasdaq declined 0.68%.

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