US stock indices lose ground as the week wraps up

Most US stock indices declined on Friday as investors continue to follow developments in the Middle East, while assessing the impact of recent US data on the Fed’s policies. 

Minneapolis Fed President said yesterday the Fed will need to take it slow before deciding on a rate cut, and it might not even occur at all until 2025. 

A prominent JPMorgan analyst said it’s possible for the Fed not to enact any rate cuts in 2024 as inflation remains relatively high. 

Markets are waiting for more quarterly results, with tech companies in particular starting to report. 

On trading, Dow Jones rose 0.2%, or 73 points as of 16:38 GMT to 37,848, while S&P 500 fell 0.8%, or 43 points to 4968, as NASDAQ fell 1.8%, or 228 points to 15,318.