While companies in the S&P 500 raked in record profits this year, investors in the benchmark index will see a roughly 20% loss in 2022, which would mark its worst year since 2008.
Treasury yields were mixed. The yield on the 10-year Treasury fell to 3.86% from 3.89% late Wednesday.Investors have been focused on the Federal Reserve’s continuing fight against stubbornly hot inflation. The central bank has been raising interest rates in an effort to stifle borrowing and spending and cool inflation, but the strategy risks going too far and sending the economy into a recession.
The latest update from the U.S. shows that the number of people seeking unemployment benefits rose only slightly last week. The labor market has been one of the stronger areas of the economy. That’s normally good news and it has helped create a bulwark against a recession as other areas of the economy slow.
The Fed has already raised its key interest rate seven times this year and is expected to continue raising rates in 2023. The key lending rate, the federal funds rate, stands at a range of 4.25% to 4.5%, and Fed policymakers forecast that the rate will reach a range of 5% to 5.25% by the end of 2023. Their forecast doesn’t call for a rate cut before 2024.
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Wall Street dips as growth stocks drag on S&P 500, NasdaqWall Street was mostly lower at the beginning of a holiday- shortened week on Tuesday as investors weighed the likelihood of protracted restrictive Fed policy against China's relaxation of its strict zero-COVID rules. Mohammad_moradi,who was living and studying in Lyon,France,drowned himself in a river to stand with Iranian protesters and to raise awareness of all the torturers,murders and rapes IR is causing to Iranians. he said:“I'd rather die than live in disgrace“ please spread his words. Mohammad_moradi,who was living and studying in Lyon,France,drowned himself in a river to stand with Iranian protesters and to raise awareness of all the torturers,murders and rapes IR is causing to Iranians. he said:“I'd rather die than live in disgrace“ please spread his words. Mohammad_moradi,who was living and studying in Lyon,France,drowned himself in a river to stand with Iranian protesters and to raise awareness of all the torturers,murders and rapes IR is causing to Iranians. he said:“I'd rather die than live in disgrace“ please spread his words!
Source: Reuters - 🏆 2. / 97 Read more »
Stocks mostly fall on Wall Street, adding to recent lossesStocks were mostly lower Tuesday afternoon after the long holiday weekend, adding to the market’s recent losses as Wall Street counts down its final days of trading in 2022 after a painful year for investors.
Source: chicagotribune - 🏆 8. / 91 Read more »
Stocks edge higher on Wall Street; Southwest losses mountStocks edged higher in morning trading on Wall Street Wednesday as investors count down to the end of the worst year for the S&P 500 since 2008.
Source: wrtv - 🏆 598. / 51 Read more »
Wall Street's dirty secret: It's terrible at forecasting stocks | CNN BusinessNo major analysts predicted last December that this year would (likely) be the worst for US stocks since 2008, oil prices would shoot from $70 to $130 and then careen back to $70, and that the Fed would announce four straight historic interest rate hikes I knew it was going to happen because...Biden. Well... your definition of 'major analyst' like 'medial expert' or 'political expert' is generally terrible, so no wonder your sources got it wrong, they get everything wrong Must be all that 'winning' from pedo peter
Source: CNN - 🏆 4. / 95 Read more »