Stock futures traded lower as the Federal Reserve held interest rates steady but hinted at the possibility of a rate hike later this year.
The Federal Reserve is expected to maintain steady interest rates at its two-day meeting, but investors will be focused on policymakers' economic forecasts, while metals prices remain mixed and U.S. stock markets anticipate the release of the Fed's policy projections.
European markets are expected to open mixed on Friday after ending a five-day losing streak, with investors focusing on euro zone inflation figures and the potential gains of certain European stocks from the rising U.S. dollar.
Millions of Americans anticipate a government shutdown as Congress struggles to pass a budget, potentially causing a short-term stock market gain.
Stocks rallied on Thursday, recovering from recent losses, as the S&P 500 rose 0.6% and the tech-heavy Nasdaq Composite gained 0.8%, while the Fed's higher-for-longer stance on interest rates continues to impact markets. Additionally, mortgage rates hit a 23-year high, dampening homebuyer activity, and the US economy showed slightly weaker growth in the second quarter than initially reported.
Stock futures are rising as investors await a new measure of U.S. inflation after the worst month of the year for equities.
Bitcoin and Ethereum saw gains in the crypto market driven by factors such as the announcement of an Ethereum futures ETF, a rise in the S&P 500 index, and short liquidations, with the rest of the market also experiencing bullish gains.
Shares of Tesla Inc. rose 2.44% as the stock market had a favorable trading session, snapping a two-day losing streak.
Four growth stocks that investors should consider buying in the wake of the Nasdaq bear market dip are Meta Platforms, JD.com, BioMarin Pharmaceutical, and Pinterest, all of which offer appealing valuations and strong growth potential.
The S&P 500 is expected to rise 13% by June 2024, according to a historical correlation between first-half returns and subsequent 12-month gains, indicating a potentially bullish outlook for the stock market.
The European Union is investigating Nvidia's alleged anticompetitive practices in the artificial intelligence chip market, where the company dominates with an 80% market share.
Investors should be cautious as signs of a potential market downturn continue to emerge, with narrowing market breadth, worsening market sentiment, surging Treasury yields, climbing oil prices, and a hefty revision of consumer spending revealing a decrease in spending that could impact economic growth.
Stocks rose on Friday as investors analyzed the latest inflation data, with the tech-heavy Nasdaq leading the gains, while bonds saw some relief from rate jitters; however, concerns over a US government shutdown and the impact of rising bond yields remain.
US stocks are expected to open higher as Wall Street reacts to the latest inflation data and attempts to recover from a challenging September.
Starbucks Corp. shares dropped by 2.16% as the stock market took a hit, resulting in their third consecutive day of losses.
Australia's first surplus in 15 years has been revised up to $22.1 billion, driven by surging tax receipts, and while it may raise hope for a second year's surplus, the economy is expected to experience slow growth due to interest rate rises and a per-capita recession.
Shares of Tesla Inc. TSLA fell 2.62% to $255.70 as the stock market experienced a poor trading session, with NASDAQ and Dow Jones also declining.
Tech stocks led a broad equity retreat as Wall Street reacted to the Federal Reserve's hawkish message and decision to hold interest rates steady, with the S&P 500, Dow Jones Industrial Average, and Nasdaq Composite all experiencing losses.
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Nvidia, the semiconductor giant, has experienced a 10% decline in their stock this month, leading to a $180 billion decrease in market capitalization, attributed to the "September effect," although it remains the best performer in the S&P 500 due to the rise of AI and ChatGPT.
Oil prices fell as U.S. interest rate hike expectations outweighed the impact of drawdowns in U.S. crude stockpiles.
Ed Tilly, former CEO and chairman of Cboe Global Markets, has resigned following an investigation into undisclosed personal relationships with colleagues that violated company policy. The probe revealed multiple cases of wrongdoing unrelated to finances, and Tilly will forfeit severance worth an estimated $8.8 million. Frederic Tomczyk, former CEO of TD Ameritrade, will succeed Tilly as CEO of Cboe.
Square, a fintech unit of Block Inc, plans to enter the Canadian cannabis market through a partnership with e-commerce platform Jane Technologies, aiming to provide a platform for licensed dispensaries to test retail point-of-sale offerings and sell products online.
Market volatility in 2023 has reached its lowest point since 2020, with the CBOE Volatility Index (VIX) falling to pre-pandemic levels, and factors such as moderating inflation and a strong labor market contributing to the market's relative calmness.
Billionaire investor Ken Griffin predicts a potential market crash due to the Federal Reserve's interest rate policy, but he remains optimistic about tech giants Microsoft and Amazon, having increased his holdings in both companies.
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FTX's upcoming liquidations are unlikely to flood the market, according to Coinbase's head of institutional research, with strict controls in place and a vesting schedule for certain tokens.
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 IPO market experiences volatility as companies like Arm and Instacart face initial downtrends, raising questions about investor appetite for future IPOs; however, recent demand for IPOs suggests there is still interest in the market.
The US dollar remained strong against other currencies as traders awaited the Federal Reserve's rate decision, while the yen hovered near a 10-month low amidst speculation of intervention.
The Federal Trade Commission has filed an antitrust lawsuit against Amazon, accusing the company of using its dominant market position to manipulate prices and harm competition in ecommerce.
New home sales dropped in August due to high mortgage rates, with sales of newly constructed homes decreasing by 8.7%.
Las Vegas hospitality workers have voted to authorize a strike as part of ongoing union strikes across the country, but the tight local labor market may lead to a resolution before any walkouts occur.
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A potential government shutdown is causing some investors to worry, contributing to the stock market's recent dip, but experts believe the impact on asset markets is already priced in, while previous shutdowns have shown to have little long-term effect on stocks.
Russia's temporary ban on diesel and gasoline exports could worsen global diesel shortages and increase crude and middle distillate prices ahead of winter, a move that some analysts believe is an attempt to weaponize energy and disrupt global energy markets.
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Stock futures decline and Treasury yields rise as Wall Street believes the Federal Reserve will keep interest rates higher for longer.
Stocks closed mixed on Wednesday, with the S&P 500 barely in the green, as investors continue to digest the implications of the Federal Reserve's higher for longer stance on interest rates. The Dow Jones Industrial Average dropped 0.2% and the Nasdaq Composite gained 0.2%. Meanwhile, oil prices hit fresh 2023 highs, and the possibility of a US government shutdown remains a concern.
Yields in the bond market are rising due to several factors including higher inflation premium, hawkish Fed policy, rising energy prices, and increased Treasury debt issuance.
This article highlights the use of a 5-minute bar chart for Comex gold futures as a valuable tool for active intra-day gold futures traders, providing key moving averages and potential buy and sell price entry points.