Stocks on Wall Street ended mixed on Friday with the Dow and S&P 500 making slight gains, helped by growth stocks that offset a dive by Nike after the athletic wear company delivered a downbeat sales forecast
Stocks bounced back from a sharp selloff at the start of the week tied in part to concerns over a default by China's EvergrandeOn Friday, Evergrande's electric car unit warned it faced an uncertain future unless it got a swift injection of cash, the clearest sign yet that the property developer's liquidity crisis is worsening in other parts of its business.
"With rates this low - even if they are going to move up slowly - and with the fiscal stimulus you'll probably see coming, I think investors still prefer stocks to any other asset class. Stocks remain in a weird way what investors see as the safe place." On Wednesday, the Federal Reserve said it would reduce its monthly bond purchases "soon" and half of the Fed's policymakers projected borrowing costs will need to rise in 2022.
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