Wall St subdued as chipmakers, growth stocks drag; Fed rate meet in focus

to their worst single-day fall on Friday since Aug. 24, with the indexes losing between 0.8% and 1.5%.

A recent inflow of hotter-than-expected economic data has eased concerns about a potential recession, without raising fears of a September rate hike, though an uptick in crude prices threatens to keep inflation elevated, with oil prices firming on Monday.a bright spot among major S&P 500 segments, up 0.5%.

"Oil prices have entered into the narrative now and the Fed will consider this," said Peter Andersen, founder of Andersen Capital Management. "There will be a pause in September as indicated by the futures market. It is very important that we watch the upcoming CPI numbers and the employment numbers because they could have a strong impact on the way the Fed will wrap up the year."

Traders largely expect the Fed to keep rates unchanged at 5.25% to 5.5% during its meeting on Wednesday, while their odds for another pause in November stand at 69%, according to the CME FedWatch Tool.

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

PayPal and Dropbox stocks fall after downgrades, GM shares inch higher, and more stocks on the moveHere are some of the most notable stock movers ahead of Monday's Wall Street open.
Источник: MarketWatch - 🏆 3. / 97 Прочитайте больше »