Stocks have been seesawing for weeks on uncertainty about whether the Fed is done with its market-shaking hikes to interest rates. By pulling its main interest rate to the highest level in more than two decades, the Fed has helped inflation to cool from its peak last year but at the cost of hurting prices for investments and damaging some corners of the economy.
Optimists say inflation has come down enough for the Fed to cut rates meaningfully next year, while the economy continues to hum due to a solid job market. Pessimists say the Fed may need to keep rates higher for longer than investors expect to get inflation down to its 2 per cent target, while the threat of a recession still looms.
It arrived on the heels of another highly anticipated IPO by chip designer Arm Holdings. The offerings could mark a warming environment for IPOs, which fell off sharply after stocks tumbled last year with worries about higher interest rates. Arm jumped in its first day of trading on Thursday but has since followed that with three days of losses.
Shares of AutoZone slipped 1.4 per cent after swinging between gains and losses earlier. The auto parts retailer reported stronger profit for the latest quarter than analysts expected. The company also said growth in its domestic commercial business was weaker than expected.
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: smh - 🏆 6. / 80 Read more »
Source: theage - 🏆 8. / 77 Read more »
ASX set to fall; Wall Street drifts as Fed meeting loomsWall Street is drifting Monday ahead of the Federal Reserve’s next meeting to focus interest rates.
Source: brisbanetimes - 🏆 13. / 67 Read more »