Charlie Pellett

In New York, Charlie Pellett, Bloomberg Radio.

The dollar rose against all major currencies as President Trump announced his pick for the Fed's top job, Kevin Warsh, who is seen as less supportive of deep rate cuts and more worried about inflation.

A drop in commodity and tech shares dragged down the S&P 500, which still notched its best month since October, up 1.4%.

For the week, the S&P 500 index gained 3 tenths of 1%.

The Dow fell for a third week down 4 tenths of 1%.

NASDAQ on the week down 2 tenths of 1%.

In New York, Charlie Pellett, Bloomberg Radio.

Sources tell Bloomberg Peloton Interactive has cut 11% of its employees, a cutback aimed at slashing costs.

The source says Peter Stern, the company's CEO who took over last year, informed staffers of the move, which mostly affects engineers working on technology and enterprise-related efforts.

The cuts come ahead of the company's quarterly earnings report next week and follow the launch of new AI-powered bikes and treadmills.

In New York, Charlie Pellett, Bloomberg Radio.

The dollar rose against all major currencies as President Trump announced his pick for the Fed's top job, Kevin Warsh, who is seen as less supportive of deep rate cuts and more worried about inflation.

A drop in commodity and tech shares dragged down the S&P 500, which still notched its best month since October, up 1.4%.

For the week, the S&P 500 index gained 3 tenths of 1%.

The Dow fell for a third week down 4 tenths of 1%.

NASDAQ on the week down 2 tenths of 1%.

In New York, Charlie Pellett, Bloomberg Radio.

The dollar rose against all major currencies as President Trump announced his pick for the Fed's top job, Kevin Warsh, who is seen as less supportive of deep rate cuts and more worried about inflation.

A drop in commodity and tech shares dragged down the S&P 500, which still notched its best month since October, up 1.4%.

For the week, the S&P 500 index gained 3 tenths of 1%.