Rate Worries Outweigh Big Bank Profits, Stocks Slip

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The stock market experienced declines due to concerns over interest rates, despite a positive beginning to the earnings season for major U.S. corporations.

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The S&P 500 achieved its fourth consecutive week of gains, fueled by optimism that the Federal Reserve will halt its interest rate hikes.

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However, a top Federal Reserve official has stated that inflation is still significantly high, and further tightening measures may be necessary.

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Traders are speculating that the Federal Reserve may increase interest rates in June.

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High-growth firms and major tech stocks have been the most affected by high rates, with Microsoft experiencing a 1.3% drop.

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Americans reduced their retail spending, and a survey revealed that households are preparing for a surge in inflation.

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Treasury yields rose, and several major banks reported profits that exceeded estimated figures.

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Boeing's stock experienced a 5.6% drop due to concerns over a supplier's work on the fuselages of some 737s.

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