Markets close mixed after volatile week

The Nasdaq rose 0.4% to 26,522, the S&P 500 added 0.2% to 7,650, but the Dow fell 0.2% to 51,682 and has now closed lower for three consecutive weeks.

Fed rate hike drives market pressure

The Federal Reserve raised rates by 25 basis points following its September meeting, with markets digesting the impact on Friday.

Oil and bond yields remain key headwinds

West Texas Intermediate crude fell 1.6% to $95.68 per barrel, while the 10-year Treasury yield climbed 5.9 basis points to 5.006%, crossing above 5% again.

“"Nothing has changed on the fundamental side to lead investors to think that oil prices will decline in a significant way or that yields will tumble over the intermediate term."”

Another rate hike likely in October

CME FedWatch shows a 55.4% probability of another 25 basis point increase to the federal funds rate following the October 28-29 Federal Open Market Committee meeting.

Netflix faces significant downside risk

Wells Fargo analyst Steven Cahall cut Netflix to Underweight with a $57 price target, down from $80, suggesting 25% downside from Wednesday's close.

“"Engagement trends look worrying to us. Netflix has lacked big original series, and it's showing."”

Netflix struggles with content strategy

The analyst says Netflix lacks big original series and faces tough choices: boost spending on content creation or pursue mergers and acquisitions after losing a Warner Bros. Discovery bidding war.

Buffett steps down as Berkshire chairman

Warren Buffett is transitioning to chairman emeritus after Greg Abel became CEO in January. His son Howard will become chairman to guard the company's culture and values.

“"Greg runs the company; Howard will guard its culture and values, both worth more than anything on our balance sheet."”

Buffett remains deeply invested in Berkshire

Buffett will stay as chairman emeritus and board member with holdings worth about $145 billion, the company's largest shareholder since buying it in 1965.