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Meru Pet
Feb 01, 2023 11:46AM ET
i see... i see Russian Bears !
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💎 Reveal Undervalued Stocks Hiding in Any Market Get Started
U.S. stocks are falling ahead of the Fed's rate decision
© Reuters.
By Liz Moyer
Investing.com -- U.S. stocks were falling early Wednesday as investors paused for the Federal Reserve's rate decision this afternoon.
At 10:44 ET (15:44 GMT), the Dow Jones Industrial Average was down 273 points or 0.8%, while the S&P 500 was down 0.4% and the NASDAQ Composite was down 0.3%.
Investors are being cautious ahead of today’s Federal Reserve decision on interest rates. The central bank is widely expected to raise its benchmark rate by a quarter of a percentage point.
Chair Jerome Powell will speak to reporters after the decision is announced, and investors will be listening for any clues about the Fed’s thinking heading into the year.
The Fed wants to cool the economy while avoiding a recession, and it is watching inflation as well as labor market trends while it makes its decision.
The job market cooled in January according to ADP’s private payroll report, which showed employers added 106,000 employees last month. That was fewer than expected and below the 253,000 added in December.
The JOLTs job opening report said there were 11 million openings in December, which was more than expected and up from 10.4 million the prior month.
While Fed officials have said they want to see the terminal interest rate rise above 5% in order to quash inflation, the market is betting that the Fed will make one more rate hike after today in March, pushing the terminal rate to 4.9%.
Corporate earnings continue to pour in. Shares of Advanced Micro Devices Inc (NASDAQ:AMD) rose more than 7% after reporting earnings that were better than expected. Shares of video game company Electronic Arts Inc (NASDAQ:EA) fell 11% after it cut its annual bookings forecast. Snap Inc (NYSE:SNAP) fell 12.9% after a net loss for the fourth quarter.
Oil turned lower. Crude Oil WTI Futures were down 0.1% to $78.78 a barrel, while Brent Oil Futures were down 0.5% to $85.06 a barrel and Gold Futures rose 0.1% to $1,947.
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Comments (14)
Mike Sim
Feb 01, 2023 11:39AM ET
Dont worry ….thankfully miracles happen everyday. Night in shining armor shows up everyday , same time to save the biggest investment joke in the world
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Michael Keith
Feb 01, 2023 11:39AM ET
you're in for a long knight
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Mathias Willems
Feb 01, 2023 11:33AM ET
inflation nowcasting cleveland reports the cpi for january up again. stop dreaming. you can check these fact by googling inflation nowcasting and get the cpi befire it comes out.
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Jabed Sheikh
Feb 01, 2023 11:07AM ET
Fed has to meet as soon as the market goes up a bit
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Brad Albright
Feb 01, 2023 11:07AM ET
This is a regularly scheduled meeting. You'll have to find something else to fuel your suspicions.
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Jabed Sheikh
Feb 01, 2023 11:07AM ET
Brad Albright But its effect falls on the whole world market.
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Rcd72
Feb 01, 2023 10:52AM ET
if fed delivers less than 0.5 % just confirms it as serious as Mickey mouse....
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Stan Smith
Feb 01, 2023 10:52AM ET
Few understand that inflation is an engineered 'stealth tax' which robs citizens of their earning power. The FED can pretend to fight inflation all it wants, but is that really the goal?
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Wrong Franco
Feb 01, 2023 10:52AM ET
Stan Smith Idk, trying to low the wages to fight inflation seems hurt people twice to me. But thats what Fed wants to see afterall. So I guess they just want to take money from you for what ever reason.
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Mathias Willems
Feb 01, 2023 10:52AM ET
then start to borrow and inverse inflation my man.
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Stan Smith
Feb 01, 2023 10:46AM ET
"Disneyland Is Over" For 'Mickey Mouse' Investors: The Fed Still Has 'The Mother Of All Bombs' To Drop
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Stan Smith
Feb 01, 2023 10:43AM ET
So happy for yesterday's 'rise on nothing' gains to offset today's losses. Its almost as if these markets are rigged or something?..lol
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Christos Rousakis
Feb 01, 2023 10:42AM ET
no 40000 haha ameican liers nice circus show
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Mitchel Pioneer
Feb 01, 2023 10:36AM ET
Another day of intraday magic in the laughingstock of the financial world. So credible that "investors" are loading up on stocks at the most grossly overvalued levels in history. Fraudulent, criminally manipulated JOKE.
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Matthew VS
Feb 01, 2023 10:35AM ET
If the officials in DC want to keep turning a profit from their insider trading, they better do something and hopefully it trickles down to us commoners.
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