Monday September 19, 2022

// September 19th, 2022 // Comments Off on Monday September 19, 2022 // Daily News

Joe Biden continues to destroy America

S&P 500 slips as rates continue march higher ahead of Fed meeting this week

The S&P 500 slipped on Monday, building on last week’s steep losses, as interest rates surged ahead of the Federal Reserve’s two-day meeting this week.

The Dow Jones Industrial Average traded 15 points, or 0.05% higher, while the S&P 500 and Nasdaq Composite dipped 0.1% and 0.3%, respectively.

The 10-year Treasury yield topped 3.51% on Monday, its highest level in 11 years, and rates across the board continued to rise ahead of the Fed’s likely decision to raise its benchmark rate by another three-quarters of a point to snuff out inflation. After some brief hope over the summer that the Fed may be done with its aggressive tightening campaign soon, investors have recently been dumping stocks on fears the central bank will go too far and tip the economy into a recession.

Investors are focused on the Fed’s latest policy meeting slated to begin Tuesday. The central bank is expected to raise interest rates by another three-quarters of a point, though investors are also watching for guidance about corporate earnings before the next reporting season begins in October.

“As we peer into the end of 2022, we continue to anticipate choppy conditions in US equities, which we view as caught in a tug of war between deeply bearish sentiment (a contrarian / bullish signal) and ongoing concerns about further Fed tightening and its longer-term economic ramifications and downward earnings revisions,” wrote RBC Capital Markets’ Lori Calvasina in a note to clients Monday.

Six of the 11 major S&P 500 sectors rose, led to the upside by consumer discretionary. Energy and health care fell more than 1% each.

Stocks slid last week as investors reacted to a hotter-than-expected inflation report and a dismal warning from FedEx about a “significantly worsened” global economy. The major averages posted their fourth weekly loss in five weeks and hovered near two-month lows.

Beyond the Fed meeting, there are just a few economic data releases on deck this week, including August housing starts on Tuesday and initial jobless claims on Thursday.

Tuesday September 13, 2022

// September 13th, 2022 // Comments Off on Tuesday September 13, 2022 // Daily News

LOOK OUT BELOW !!

SEE WHAT JOE BIDEN’S POLICIES HAVE DONE TO US?

Stock sell-off deepens, Dow drops 800 points after hot inflation report

Stocks fell sharply on Tuesday after a key August inflation report came in hotter than expected, hurting investor optimism for cooling prices and a less aggressive Federal Reserve.

The Dow Jones Industrial Average slid 845 points, or 2.6%. The S&P 500 dropped about 3%, and the Nasdaq Composite sank 3.9%. More than 490 stocks in the S&P 500 fell, with Facebook-parent Meta dropping 7.9% and Caesars Entertainment losing 7.3%.

The drop erased a large chunk of the recent rally for stocks, but the S&P 500 is still up about 2% from its Sept. 6 close of 3,908 and comfortably above its mid-June levels, when it fell below 3,700.

“The velocity of this move has been breathtaking, however the market has recovered substantially off of recent lows. That this 4,000 level is still holding for the S&P 500 does reveal the fact that markets are bothered, but markets are not panicking,” said Jeff Kilburg, founder and CEO of KKM Financial.

Stocks continue to fall

The losses for stocks have steadily deepened since the market open, with the Dow now off more than 800 points and the S&P 500 down nearly 3%. Facebook-parent Meta has dropped more than 7% and is one of the worst performers in the S&P 500.