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Stocks Fall as Job Market Strength Fuels Fed Rate Hike Fears

  • The Dow Jones Industrial Average is down over 400 points Tuesday and on pace to erase its 2023 gains.

  • Bond yields spiked after new labor data showed continued job market strength.

  • Higher yields bolster the case for the Fed to remain aggressive with interest rates.

  • September posted the worst monthly losses for stocks in 2023, extending a brutal stretch.

  • Some pockets of the economy like manufacturing and housing have already seen hard landing scenarios.

businessinsider.com
Relevant topic timeline:
The Dow Jones Industrial Average fell after a surprise drop in initial jobless claims, while tech stocks, such as Nvidia, saw gains due to strong earnings results.
Summary: The Dow Jones Industrial Average and other stock indexes experienced significant declines as market attention shifted to the upcoming speech by Fed Chair Jerome Powell at the Jackson Hole Economic Symposium, while Nvidia's gains were nearly wiped out after strong earnings and Tesla CEO Elon Musk issued a warning regarding the Cybertruck, although Box, NOV, and Automatic Data Processing showed strength.
The Dow Jones Industrial Average erases early gains as Fed Chair Jerome Powell expresses concerns about high inflation and the possibility of raising interest rates, while former President Donald Trump returns to Twitter, now known as X, after being booked on racketeering charges.
Dow Jones futures and key economic data, including the Case-Shiller Home Price Index, FHFA Price Index, consumer confidence numbers, and the July JOLTS report, are impacting the stock market today. Additionally, several software stocks and companies like Best Buy, BYD, Nio, and Pinduoduo are making moves in earnings.
The Dow Jones Industrial Average rose 0.6% after weak economic data suggested a decline in the job market and consumer confidence, while the Nasdaq led with a 1.6% gain.
The Dow Jones Industrial Average made slight gains despite weaker than expected jobs data and a downward revision to Q2 GDP estimates, which increases the chances of a pause in interest rate hikes.
Dow Jones futures are up 150 points as August comes to a close, while key inflation data, including the Fed's preferred inflation indicator, is released, revealing personal income and outlays, jobless claims, and earnings updates from companies like Salesforce, CrowdStrike, Dollar General, Okta, and Veeva Systems.
The Dow Jones Industrial Average fell after weak economic data from China, while U.S. oil prices rose and Tesla's stock gained due to increased sales in China.
The Dow Jones Industrial Average fell 0.6% as major indexes tested their 50-day lines, while the S&P 500 and Nasdaq both experienced declines midday.
The Dow Jones sinks over 300 points as a tech selloff occurs due to investor fears of more Fed rate hikes, with Apple, Tesla, and Nvidia all experiencing significant declines.
The Dow Jones Industrial Average dropped due to disappointing earnings from Oracle, while attention will shift to key inflation data, including the Consumer Price Index and the Producer Price Index, later this week.
The Dow Jones Industrial Average rose after the Labor Department's CPI inflation report, and oil prices hit a new high for 2023.
The Dow Jones Industrial Average rose ahead of the Federal Reserve's interest rate decision, while Cathie Wood's Ark Invest sold shares of Tesla stock.
The Dow Jones Industrial Average dropped 225 points as global markets responded to the Federal Reserve's shift in tone, while unemployment claims unexpectedly decreased and tech stocks like Nvidia and Tesla experienced sell-offs.
The Dow Jones Industrial Average fell on Friday following a stock market sell-off, while Cathie Wood's Ark Invest ETFs purchased more than one million shares of Palantir stock and Seagen surged on positive trial results for a combination drug to treat advanced bladder cancer.
The Dow Jones Industrial Average dropped 150 points as the U.S. government averted a shutdown, while Tesla stock declined due to weaker-than-expected third-quarter deliveries.
The Dow Jones Industrial Average index contains 30 blue chip stocks and is considered a barometer for the stock market; within the index, Salesforce, Visa, and Nike are highlighted as potential bargains with growth opportunities.
The Dow Jones Industrial Average dropped over 300 points after the release of August JOLTS data, while Cathie Wood's Ark Invest ETFs sold nearly $4 million worth of Nvidia stock.
The Dow Jones Industrial Average is poised for its worst day in months as the stock market selloff continues, driven by losses in Goldman Sachs, Microsoft, and American Express.
The Dow Jones Industrial Average and other indexes took a major hit in the stock market, with the Dow falling more than 500 points and the Nasdaq and S&P 500 also experiencing significant losses, as the cost of borrowing money increased and the yield on the Treasury 10-year bond reached a 16-year high.
Dow Jones futures rose slightly before the open as the September jobs report is expected to show a gain of 160,000 jobs and a decrease in the unemployment rate to 3.7%, while Tesla, Exxon Mobil, and Taiwan Semiconductor were in focus before the open.
The Dow Jones Industrial Average rallied as investors shrugged off geopolitical concerns related to Israel's offensive against Hamas, with defense stocks and energy stocks performing well.
The Dow Jones Industrial Average rose 0.5% and the S&P 500 gained 0.6% amid ongoing conflict in Israel and ahead of key economic data, while the Nasdaq led with a 0.7% gain, and the small-cap Russell 2000 index gained more than 1%.
The Dow Jones Industrial Average gained 0.4% in the final hour of trading, underperforming other major indexes due to a rally fading towards the end of the session, while long-term interest rates dropped and stock turnover increased.
The Dow Jones Industrial Average rose after the release of a key inflation gauge and ahead of a Federal Reserve report, while shares of Nvidia rallied after a price target increase.
The Dow Jones Industrial Average rallied as third-quarter earnings season began, with positive results from UnitedHealth and JPMorgan Chase, while Netflix slid due to an analyst downgrade.
Dow Jones, S&P 500, and Nasdaq futures remained steady, with stocks rebounding off lows despite tightening U.S. restrictions on AI chip exports to China and surging Treasury yields; Tesla and several other stocks are on the watchlist as they approach buy points.
The Dow Jones Industrial Average fell 1% due to higher Treasury yields, while the Federal Reserve reported little change in the economy over the past six weeks.
The Dow Jones Industrial Average fell after Federal Reserve Chair Jerome Powell spoke on inflation and interest rates, while Netflix stock surged on strong earnings and Tesla stock dropped after Elon Musk's warning about the Cybertruck. Microsoft, HealthEquity, Vistra, and Cencora also had notable movements.
The Dow Jones Industrial Average extended its losses due to Thursday's stock market sell-off, SolarEdge Technologies plunged after warning of weak European demand, and Tesla stock continued to slide, testing a key level. Meanwhile, American Express, Intuitive Surgical, and SLB were key earnings movers, with AXP stock slipping 3.5% and Intuitive Surgical shares tumbling nearly 4%.
The Dow Jones Industrial Average rose 275 points on Tuesday after the release of positive economic data, while tech giants Alphabet and Microsoft prepared to report their earnings after market close.
The Dow Jones Industrial Average ends a four-day losing streak as investors focus on strong earnings from companies like Coca-Cola and Verizon, while Microsoft and Alphabet also report positive quarterly results.
The Dow Jones Industrial Average dropped due to key inflation data, while Amazon's stock surged on strong earnings results.