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Set timer for 1 3012/31/2023 The index posted its biggest single-day percentage decline in more than three weeks. The Philadelphia SE Semiconductor index (.SOX) fell 6.06% after a revenue warning from Advanced Micro Devices (AMD.O) signaled a chip slump could be worse than expected. exchanges was 11.15 billion shares, compared with the 11.73 billion average for the full session over the past 20 trading days.įor the week, the S&P 500 rose 1.51%,the Dow added 1.99% and the Nasdaq gained 0.73%.Īll 11 major S&P 500 sectors declined, with technology (.SPLRCT) falling the most, down 4.14%. Next week's consumer price index will provide a key snapshot of where inflation stands.ĭespite Friday's nosedive, a hefty two-day rally earlier in the week pushed the S&P 500, the Dow and the Nasdaq to post their first week of gains after three straight weeks of losses. "They're going to keep going until eventually this thing turns over, and when it turns over you won't be able to slow the momentum." "We haven't felt the full effects of the tightening," said Joseph LaVorgna, chief U.S. One economist said the Fed should not be reassured by the tight labor market because when the unemployment rate begins to rise, it does so quickly and is a leading indicator of a recession. You can pause and resume the timer anytime you want by clicking the timer controls. To run stopwatch press 'Start Timer' button. Online countdown timer alarms you in one minute thirty second. "The market took the good news of the robust labor market report and turned it into an ever-more vigilant Fed and therefore potentially higher risks of a recession next year." 1 minute 30 second timer to set alarm for 1 minute 30 second minute from now. "This was a classic case of good news is bad news," he said. The data cemented another jumbo-sized, 75 basis-point rate hike in November as "the labor market is still way too hot for the Fed's comfort zone," said Bill Sterling, global strategist at GW&K Investment Management. In the latest of a steady stream of hawkish messages by policymakers, New York Fed President John Williams said more rate hikes were needed to tackle inflation in a process that will likely increase the number of people without jobs.
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