Magnificent Seven Slip, Inflation Fears Grip Consumers, Gold Hits Record Highs: This Week In The Markets

Quick Summary:

It's been a cautious week on Wall Street as earnings from mega-cap tech companies prompted investors to reassess their high expectations for future growth.Alphabet Inc.(NASDAQ:GOOG) (NASDAQ:GOOGL) and Amazon.com Inc.(NASDAQ:AMZN) were the latest among Magnificent Seven stocks to fall short of lofty guidance forecasts, weighing on the broader market.Drugmaker Eli Lilly Co.(NYSE:LLY) and financial stocks provided a cushion, helping offset some of the weakness in mega-cap tech.

On the macroeconomic front, January’s labor market data sent mixed signals.

Nonfarm payrolls rose by 143,000, a sharp slowdown from December's 307,000 and well below economist forecasts of 170,000.

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Author / Journalist: Piero Cingari

Category: Technology

Markets: United StatesChinaEgyptIsraelJordan

Topics: Earnings Beats US38259P7069 Donald Trump Global LLY Benzinga US38259P5089 US78463V1070 Tariffs Inflation GOOG Stories That Matter US5324571083 GOOGL Markets Tech Econ #s US3453708600 GLD Top Stories AMZN F Commodities US0231351067

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-07 @ 21:41:00 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 461 words

Reading Time: 3 minutes read

Sentences: 21 lines

Sentence Length: 22 words per sentence (average)

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Copyright Owner: © Benzinga

News ID: 25968404

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