US stocks finished in the red Thursday after hotter-than-expected wholesale price data was followed by two Federal Reserve officials saying they would back upsizing rate hikes to ease inflationary pressures.
None of the 11 sectors on the S&P 500 rose, with the broad pullback set off by the Labor Department's producer price index report showing a 0.7% increase in January after a 0.2% dip in December. "[Coupled] with a hotter-than-expected Consumer Price Index , markets have priced in a Federal Reserve probability of more rate hikes than initially anticipated," Quincy Krosby, chief global strategist at LPL Financial, said in a note."With the futures market now pricing in a strong probability of two more 25-basis-point rate hikes this year, probability is edging higher for a third hike.
Too bad FAILURE: decided to pinch US oil production. borrowed money for expensive 'Green' Energy. lept and then looked on COSTLY sanctions begged for oil from friends and enemies, and said 'FU, POSUS' 'Nobody F's with a Biden' is a CLOWN.
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Buy the dips in stocks as S&P 500 looks resilient: Fundstrat analystInvestors should buy the dips in the stock market as the S&P 500 looks resilient in the face of higher interest rates, strategist says $ICU will explode. Medical holdings company, currently at all time low with 2 medical catalysts confirmed soon. Moving up slowing on relatively low volume right now. Very bullish short data as well. Now is the time to get in. Conference call with shareholders today at 3pm CST
Source: BusinessInsider - 🏆 729. / 51 Read more »