Memory-chip maker swung to a profit and posted higher revenue in its fiscal first quarter, though shares fell after the company’s outlook missed estimates.
The S&P 500 plunged 3% on Wednesday, Dec. 18, 2024, as the Fed cut interest rates but struck a cautious tone about future policy moves.
We recently published a list of 10 Best Undervalued Energy Stocks To Buy According to Hedge Funds. In this article, we are going to look at where Exxon Mobil Corporation (NYSE:XOM) stands against other best undervalued energy stocks to buy according to hedge funds. Despite the stated goal of energy dominance, the US has already achieved […]
We recently published a list of 10 Companies Hoarding Bitcoin Like There’s No Tomorrow. In this article, we are going to take a look at where Coinbase Global, Inc. (NASDAQ:COIN) stands against other companies hoarding bitcoin like there’s no tomorrow. Cryptocurrencies have been surging since the beginning of the year. After a small drop in […]
We recently published a list of 10 Companies Hoarding Bitcoin Like There’s No Tomorrow. In this article, we are going to take a look at where MicroStrategy Incorporated (NASDAQ:MSTR) stands against other companies hoarding bitcoin like there’s no tomorrow. Cryptocurrencies have been surging since the beginning of the year. After a small drop in January, […]
Pressure is building on Amazon.com to come to the bargaining table with the Teamsters union as thousands of workers threaten to strike during the retailer’s busy holiday selling season. Workers in New York City, southern California and Skokie, Illinois, voted in recent days to authorize a strike should Amazon fail to bargain with the International Brotherhood of Teamsters. On Wednesday, the union said workers at Amazon facilities in Atlanta and in San Francisco joined in favor of striking.
The Dow Jones Industrial Average fell more than 1,100 points after the Federal Reserve cut interest rates but signaled they might stay higher than investors expected in 2025. The blue-chip index gave up an early gain and posted its largest slide since August after Fed officials lowered rates by a quarter percentage point and disappointed investors by signaling just two more cuts next year. Investors’ expectation for lower rates ahead was among the factors that powered stocks to records in recent weeks, with the Dow industrials hitting an all-time high above 45000 earlier in December.
US stock markets (^DJI, ^IXIC, ^GSPC) tumbled after the Federal Reserve announced a 25 basis point rate cut on Wednesday afternoon. Piper Sandler Companies Chief Investment Strategist Michael Kantrowitz analyzes the market's reaction on Market Domination. Kantrowitz believes a rate hike is "unlikely" in 2025, though he expects market participants to continue debating the possibility. He explains that current rate cut expectations must be fully priced out of the market before potential hikes can be factored in, noting that this shift is already "on the way there," as fewer rate cuts are anticipated for 2025. Addressing today's market downturn following Powell's conference, Kantrowitz identifies higher interest rates as the primary concern for US equity markets. "The relationship between interest rates and equities has ebbed and flowed in recent months, but clearly we're back to a pretty negative correlation," he explains. "People are not worried about the economy falling off a cliff, but they are worried about higher inflation," Kantrowitz emphasizes. "In the last couple years, markets have only really gone down because of rising interest rate or inflation fears, and I think that's the new normal. That going forward, market corrections are going to come from higher rates, not slower growth or higher unemployment." To watch more expert insights and analysis on the latest market action, check out more Market Domination here. This post was written by Angel Smith
According to preliminary data, the S&P 500 lost 2.96%, while the Nasdaq Composite lost 3.62% and the Dow Jones Industrial Average fell or 2.61%. The Dow and S&P saw their biggest one-day percentage decline since Aug. 5 and the Nasdaq saw its biggest daily decline since July 24. "Everything in the dot plot suggested that we have higher economic growth, a stronger labor market, more inflation, fewer Fed rate cuts and a higher neutral rate."
The Dow Jones Industrial Average and other indices declined sharply after the Federal Open Market Committee announced a quarter percentage point reduction in interest rates on Wednesday afternoon and just two more interest rate cuts in 2025. With that, the Dow had its first ten-day losing streak, the longest since 1974.