U.S. stocks open lower as investors weigh future path of Fed rate hikes

U.S. stocks opened lower Friday, as investors continue to weigh what stronger-than-expected inflation data from earlier this week will mean for the Federal Reserve’s future path of interest rate hikes. The Dow Jones Industrial Average was down 0.4% soon after the opening bell, while the S&P 500 fell 0.5% and the Nasdaq Composite dropped 0.7%, according to FactSet data, at last check.

Cleveland Fed President Loretta Mester said Thursday that she had seen a “compelling” case for a half-point interest rate hike at the Fed’s last policy meeting that concluded Feb. 1, when the Fed lifted its benchmark rate by a quarter of a percentage point. The central bank has been trying to slow the economy and bring down inflation by raising rates. A report on the leading index of economic data from the Conference Board is scheduled to be released at 10 a.m. Eastern time on Friday.

BREAKINGNEWS !!!! Just a friendly reminder that NFT 's are a scam. Keep spreading the good word, MARKETWATCH.

Philippines Philippines Latest News, Philippines Philippines Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock Market Today: Stocks slide back toward session lows after remarks by Fed's BullardU.S. stocks sink toward session lows after remarks by Fed's Bullard Reality hurts Um could it be a combination of Mester, Bullard, CPI, PPI, Philly Fed Index & jobs report. This market is on stilts & its really heavy. This has been an 'I don't believe the Fed' rally. Maybe they are starting to believe. Also $TSLA recall has hurt the market. Tesla down 16 points from today's high.
Source: MarketWatch - 🏆 3. / 97 Read more »