Published on 24 Jan 2025 on Benzinga
Wall Street paused for a breather on Friday, with the S&P 500 index hovering around the flatline at midday trading in New York after a five-day rally that pushed the market to fresh record highs this week. Meanwhile, investor attention shifted to forex and gold markets.
The greenback is experiencing its worst weekly performance since July 2023, as President Donald Trump refrained from imposing new tariffs during his first week and escalated pressure on the Federal Reserve, urging the central bank to lower interest rates. The U.S. dollar index – tracked by the Invesco DB USD Index Bullish Fund ETF UUP – dropped 0.7% on Friday, extending its weekly decline to 1.7%.