The Standard & Poor's 500 was 0.4% lower in early trading and on track for a third straight losing week.
Inflation is down sharply, employment is holding steady and GDP is growing. But Americans are still blaming Biden for a lousy recovery.to the highest level since 2002, as it tries to fully smother high inflation. High rates work by slowing the economy bluntly, raising the risk of a recession and hurting prices for investments.
Traders had been hoping that the Fed was done hiking rates and that it would begin cutting them early next year. Inflation has already come down considerably since its peak last summer. But economists say the last bit to get inflation down to the Fed’s target may prove the most difficult. And a suite of strong reports on the economy, including much stronger sales at U.S. retailers than expected, suggest upward pressure still exists on inflation. Traders have since ratcheted back their expectations for rate cuts through the end of 2024, according to data from CME Group.
The next big event for markets could be Fed Chair Jerome Powell’s speech late next week at an event at Jackson Hole, Wyo. Higher yields make the stock market look more expensive, unless companies suddenly earn much more in profits. And while companies have been reporting stronger earnings for the spring than analysts expected, it hasn’t been enough to stop the market’s slide.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Heard on the Street - Wall Street JournalRead today's Accounting Rules News, Sarbanes Oxley, Preparation Regulations, Accounting News, Small Business Accounting at The Wall Street Journal.com
Lire la suite »
William McGurn — Opinion Columnist, Main Street at The Wall Street JournalWilliam McGurn is a member of The Wall Street Journal editorial board and writes the weekly 'Main Street' column for the Journal each Tuesday. Previously he served as Chief Speechwriter for President George W. Bush.
Lire la suite »
Stock market today: Asian shares mostly decline after Wall Street drops on higher bond yieldsAsian shares have slipped as rising yields in the bond market on Wall Street set off expectations that high interest rates would continue in the U.S.
Lire la suite »
Stock market today: Asian shares mostly decline after Wall Street drops on higher bond yieldsAsian shares have slipped as rising yields in the bond market on Wall Street set off expectations that high interest rates would continue in the U.S. Benchmarks fell in Tokyo, Hong Kong, Shanghai and Seoul, and were little changed in Sydney.
Lire la suite »
Stock market today: Asian shares mostly decline after Wall Street drops on higher bond yieldsAsian shares have slipped as rising yields in the bond market on Wall Street set off expectations that high interest rates would continue in the U.S. Benchmarks fell in Tokyo, Hong Kong, Shanghai and Seoul, and were little changed in Sydney.
Lire la suite »
Wall Street weakens again as higher bond yields keep bitingWall Street fell for a third straight day as rising yields in the bond market keep cranking up the pressure.
Lire la suite »