Karen Langley
speaker
146 appearances
4 recordings
1 series
first heard Jul 2020
last heard Dec 2024
Karen Langley’s voice in public audio — every appearance, attributed to the second.
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Appearances
Hey, listeners.
It's Saturday, December 21st.
I'm Karen Langley for The Wall Street Journal, and this is What's News in Markets, our look at the biggest stock moves of the week and the news that drove them.
Let's get to it.
This week turned into a rocky one for markets.
Things started out steadily enough.
Then came Wednesday, when the Federal Reserve signaled it might keep interest rates higher next year than investors had expected.
This was not music to investors' ears.
The Dow tumbled more than 1,100 points, while the Russell 2000 lost 4.4%.
That made Wednesday the worst day in two and a half years for the Russell, an index of smaller publicly traded companies.
Investors had been thinking that additional rate cuts next year would help stocks keep powering higher.
So learning that the central bank may make fewer cuts than expected was an unpleasant surprise.
While stocks climbed Friday, they still ended the week lower.
The S&P 500 fell 2% for the week, while the Dow lost 2.3% and the Nasdaq dropped 1.8%.
With the holidays coming up, it's a big time for eating.
But this week, food-related stocks were telling different tales.
Shares of Darden restaurants, the owner of Olive Garden, soared almost 15% on Thursday to an all-time high.
That was after Darden had better-than-expected sales last quarter.
With consumers still cringing at higher prices after all that inflation, Darden has been prominently advertising its value meals and ran its Olive Garden unlimited pasta deal for longer than last year.
Things didn't go so well for French fry maker Lamb Weston.
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