![]() ![]() Market holidays and trading hours provided by Copp Clark Limited. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC and/or its affiliates. Standard & Poor’s and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. ET, the Dow Jones Industrial Average was up 352.71 points, or 1.02, at 34,938.06, the S&P 500 was up 14.90 points, or 0.33, at 4,537. ![]() ![]() Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. stock indexes closed higher Friday, lifted by tech shares, as blue-chip earnings and fresh inflation data rolled in. Chicago Mercantile: Certain market data is the property of Chicago Mercantile Exchange Inc. please contact Dow Jones Reprints at 1-80 or visit. US market indices are shown in real time, except for the S&P 500 which is refreshed every two minutes. Todays Stock Market News, August 2, 2022: Stocks Finish Lower. But the breadth of its latest rally has widened beyond Big Tech, a sign that gains are looking more sustainable. Your CNN account Log in to your CNN account The Dow Jones Industrial Average snapped a 13-day winning streak on Thursday. Continued strength in the jobs market has some worried that inflation is still not yet under control. The Fed is certain to raise interest rates again on December 14, but it is not clear if the central bank will do so by just a half point or if it will boost rates by three-quarters of a point for the fifth straight time. Investors are also growing anxious about next week’s Federal Reserve meeting. Total Stock Market Index (DWCF) value, historical performance, charts, and other financial information to help you make more informed trading and investment decisions. ![]() (TRV) were Dow leaders and just two of six components to finish the day higher. Shares of JPMorgan Chase, Walmart and Goldman Sachs, which are all Dow components, were flat and down 1.2% and 2.4% respectively. (UNP), added in a CNBC appearance that “clearly the consumer side of the economy is slowing.” The stock ended the day unchanged. (GS) CEO David Solomon also sounded recession alarm bells, telling Bloomberg Tuesday that “you have to assume that we have some bumpy times ahead” and warned that smaller bonuses and possible job cuts were likely at the investment bank.Īnd Lance Fritz, the CEO of railroad giant Union Pacific (Dimon also bashed crypto again, comparing tokens to “pet rocks.”) And JPMorgan Chase CEO Jamie Dimon said on CNBC he thought there could be a “mild to hard recession” due to the Federal Reserve’s continued interest rate hikes. (WMT) CEO Doug McMillon told CNBC that lower-end consumers were still feeling the pinch from inflation. The S&P 500 and Nasdaq were down 1.4% and 2% respectively.įour of America’s leading chief executives gave cautious comments about the economy in interviews Tuesday, and that seems to have spooked the market. The S&P 500 traded near 4,550, while the Nasdaq 100 underperformed after a special. That follows a nearly 500-point slide Monday. The Dow Jones Industrial Average rose for an 11th straight day its longest winning run since 2017. The Dow fell more than 350 points, or 1.3%. Stocks sank Tuesday, the second straight day of losses on Wall Street. “To have a major central bank deviate from the international standard, I think would set up chaos around the world on inflation.Some top CEOs appear to be worried that the economy could be the Grinch that steals Christmas this year. “This is a way to squander your credibility and make the 70s magically reappear, and The Bee Gees will be back on tour,” Bullard said in response to an audience question about raising the inflation target. Louis Fed President James Bullard said Tuesday during a virtual appearance at the Barclays-CEPR International Monetary Policy Forum. So painful, in fact, that some economists have begun to advocate for simply moving the goal posts, accepting a higher price target in order to avoid some of the fallout required to bring inflation all the way back down.īut a top Fed official on Tuesday rejected that possibility, warning that raising the target would damage the central bank’s credibility while injecting fresh uncertainty into global markets. The path to bring rampant inflation back down to the Federal Reserve’s established 2% target will be long and painful. Fed Official Rejects Raising Inflation Target Above 2% ![]()
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