Investors wait for Fed raise details, sending U.S. markets down
Breaking News

Investors wait for Fed raise details, sending U.S. markets down

Wall Street stocks are declining, putting the S&P 500 index on course to end its four-week winning run.

After a mixed bag of corporate earnings, more solid employment data, and a steady retail sales report, investors may already be looking ahead to the Federal Reserve’s annual Jackson Hole conference in Wyoming the following week for clues as to when and by how much the U.S. central bank may raise its key lending rate.

 

At 10:15 a.m. Eastern, the S&P was down 46 points, or 1.1%, to 4,237, while the Dow Jones Industrial Average was down 0.6%. The Nasdaq fell 1.7%, with technology firms among the worst performers.

 

 

Additional interest rate increases are forthcoming

This week’s release of the minutes from the Federal Reserve’s July meeting indicated that inflation remains too high and that the central bank will continue to raise interest rates.

 

This year, the Fed has increased interest rates twice by 0.75 percentage points, which is three times the typical increase. Forecasters anticipate a raise at the board’s September meeting, but whether it will be another three-quarters of a point or less will depend on whether the Fed is more persuaded by a historically robust job market or an economy that has declined for two consecutive quarters.

 

 

Friday, the mall-based sports gear retailer Foot Locker selected former Ulta Beauty CEO Mary Dillon as its new chief executive officer, replacing Richard Johnson.

 

Bed Bath & Beyond stock plummeted 40% after prominent activist investor Ryan Cohen revealed his exit from the stock. General Motors climbed after resuming its dividend, while Foot Locker jumped after removing its CEO and reporting results that beyond Wall Street’s expectations.

 

Bitcoin plunged more than 8% to $21,506.00 per coin, pulling down the whole cryptocurrency market.

 

In computerized trading on the New York Mercantile Exchange, the price of U.S. crude fell by $1.40 per barrel, to $89.10 a barrel. On Thursday, the contract increased $2.39 to $90.50. Brent crude, the worldwide benchmark price, slid $1.62 per barrel to $94.97 in London. It increased by $2.94 the day prior to reach $96.59

Related posts:

  1. U.S. markets fall as investors stress over Fed intentionsFollowing two days of falls, Wall Street stocks are sliding rapidly as investors fret that the Federal Reserve’s anti-inflation efforts would result in persistently high...
  2. U.S. markets decline as investors worry about Fed intentions :As Wall Street struggles with the possibility that high interest rates will remain in place until the Federal Reserve reduces inflation, stocks extended their slide...
  3. Stocks up, U.S. yields at 3% as markets ready for Fed hikeWorld stocks rose on Tuesday and U.S. 10-year Treasury yields held above 3% as investors prepared for the Federal Reserve’s biggest rate hike since 2000....
  4. Wall Street slumps as investors realised the Fed would keep rates high to fight inflationFollowing a sharp decline last week, stocks began lower on Wall Street as investors recognised how committed the Federal Reserve is to maintain high interest...
  5. Wall Street stocks gained as investors anticipated a Fed rate hike this weekAs investors prepare for another significant interest rate hike from the Federal Reserve this week, stocks increased on Wall Street after vacillating between tiny gains...
  6. Tesla investors are fed up with Elon Musk’s Twitter antics: ‘It’s as though he’s abandoned us.’Tesla investors are becoming increasingly irritated as Elon Musk devotes more time and attention to his Twitter makeover, even as the electric vehicle company’s stock...
  7. Stocks slump as investors are alarmed by the Fed’s hardline stance on rate hikesIn response to the Federal Reserve’s assertive approach this week over future rate hikes, U.S. equities sank dramatically on Friday, signaling another weekly loss for...
  8. Financial markets are no longer expecting the Reserve Bank of Australia to raise interest ratesFinancial markets are no longer expecting the Reserve Bank of Australia to keep raising interest rates to deal with the worst inflation in 32 years...
  9. October job openings fell, a good sign for the Fed as it prepares to raise rateIn October, the number of job vacancies in the United States decreased but remained high, indicating that businesses have become somewhat less desperate for workers...
  10. Pregnant Keke Palmer says she ‘can’t wait’ for her babyKeke Palmer, who is pregnant, says she “can’t wait” to meet her child. “I’m very excited, nervous, and curious more than anything because it’s one...