Please disable your Ad Blocker to better interact with this website.

Markets – Bitcoin and Amazon in trouble?

The S&P 500 fell on Monday, with declines in real estate and financial shares, as investors digested comments from U.S. Federal Reserve officials about plans for interest rate hikes and looked for next catalysts after last week’s big stock market rally.

Fed Vice Chair Lael Brainard signaled that the central bank would will likely soon slow its interest rates hikes. Her comments somewhat helped lift sentiment for equities that had been dampened after Federal Reserve Gov. Christopher Waller on Sunday said the Fed may consider slowing the pace of increases at its next meeting but that should not be seen as a “softening” in its commitment to lower inflation.

A massive equity rally late last week was set off by a softer-than-expected inflation report that boosted investor hopes the Fed could dial back on its monetary tightening that has punished markets this year.

“There is still a sensitivity to Fed speak… One was a little hawkish, one was a little dovish,” said Eric Kuby, chief investment officer at North Star Investment Management Corp.

According to preliminary data, the S&P 500 lost 35.80 points, or 0.90%, to end at 3,957.13 points, while the Nasdaq Composite lost 130.96 points, or 1.16%, to 11,192.37. The Dow Jones Industrial Average fell 206.78 points, or 0.61%, to 33,541.08.

The S&P 500 last week posted its biggest weekly percentage gain since late June, while the tech-heavy Nasdaq notched its best week since March.

More Fed officials are due to speak later this week along with a slew of data, including on inflation, retail sales and housing, and earnings reports from major retailers.

“There is going to be a lot to digest both in terms of Fed speak but also in terms of economic data coming out this week,” said Yung-Yu Ma, chief investment strategist at BMO Wealth Management.

Story continues at: Economy in trouble


Picture of Joe Messina

Joe Messina

All is fair in Radio! Politics, religion, prejudice, illegal immigration, legal immigration. Don't miss the "You're Not Serious" segment. We will be dealing with some of the most asinine items from the week's news. REAL and RAW!! You don't want to miss this show! The Real Side with Joe Messina. EVERY DAY - Check for stations and times.

Leave a Replay

Recent Posts

Sign up for our Newsletter

Click edit button to change this text. Lorem ipsum dolor sit amet, consectetur adipiscing elit