was down 1.3%. The indexes were heading toward their second straight weekly decline and the first negative December in four years.
The gloomy holiday mood is being stoked by fears about the Federal Reserve's aggressive actions to stop inflation in its tracks, with the help of other central banks around the world. The Bank of England and the European Central Bank joined it in saying rates would stay higher for longer. This week, the Fed signaled it wasn’t done with raising rates and even indicated its benchmark rate would probably rise above 5% next year, which is higher than investors expected just a few weeks ago.
Now, the policy rate is expected to rise to 5.1% next year, the Fed said, a level it hasn’t reached since 2007. Gross domestic product growth is expected to slow, the Fed said, and unemployment is expected to rise.
Santa is giving the greedy wall street traders coal for Christmas.
Define Santa rally. Bet you can’t.
Santa Rally typically happens later in the year, around Christmas or after!
Will $NFLX revise earnings on potential lost of subscribers due to the failed ad tier program?
Probably falling last week but as next week MMs and Algos will create some kind of relief rally to get the hopes up.. Markets are AI driven.
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