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U.S. stocks are mixed as investors prepare for Fed meeting, inflation numbers

AuthorLiz Moyer
Published 06/07/2023, 09:55 AM
Updated 06/07/2023, 11:15 AM
© Reuters.

Investing.com -- U.S. stocks were mixed as investors looked forward to the Federal Reserve’s next meeting and new information on inflation.

At 11:13 ET (15:13 GMT), the Dow Jones Industrial Average was up 27 points or 0.1%, while the S&P 500 was down 0.1% and the NASDAQ Composite was down 0.5%.

Earnings season is winding down as investors prepare for the Fed’s rate decision next week. In economic data, the trade deficit rose in April but not by as much as expected.

Treasury Secretary Janet Yellen told CNBC she wouldn’t be surprised to see more bank mergers. The Fed is expected to release the results of its latest stress test on the 23 biggest banks, and at the same time there are expectations that regulators will tighten capital standards for banks.

“There is motivation to see some consolidation and it wouldn’t surprise me to see some of that going forward,” Yellen told CNBC.

The Fed will meet next week, and futures traders expect it will pause on more interest rate increases while it studies how well its 10 consecutive increases since last year have worked to cool inflation.

Before its decision, the consumer price index for May will be released on Tuesday.

In corporate earnings, Stitch Fix (NASDAQ:SFIX) stock rose 28% after the online personal styling company reported better-than-expected third quarter results. Campbell Soup Company (NYSE:CPB), meanwhile, beat quarterly profit estimates after price hikes and maintained its annual forecast, but shares fell 5%.

Dave & Buster’s Entertainment (NASDAQ:PLAY) shares rose 24% after the arcade and restaurant chain beat expectations and said it planned to open 20 locations in India and Australia.

Latest comments

Thanks Trump and Biden for doubling the nation’s money supply Trump in two months created more money than since the signing of the constitution… madness
Can we go ahead and concede that would have never happened without the planned release of a pandemic?
so you think the goal was to get you sick and not take your money hummm
The Fed will not "pause", inflation numbers last week came above expected. They just passed a reckless debt ceiling deal that is going to rapidly accelerate inflation again. Rates are going to go 7%+. They are only pumping out comments about the Fed because the market is not even clearing recent levels and they want to try and pump it prior to tanking it for the rest of the year and into 2024 election cycle. Despite trillions in spending and end of lockdowns, the Dow is literally at the same level as when Biden took office. Democrats/socialists just waste trillions so that they can launder a few million into their own pockets, meanwhile destroying the middle class and importing slaves.
Inflation numbers last week? There were no inflation numbers last week. They come out next week. Another uninformed blowhard with an opinion.
The Fed watches the PCE far more than the CPI. May 26th.
2YR yield over 4.5% again. How high will it go before the yield curve returns to normal and the recession begins?
Keep the rates high! bring back the real pre-2008 economy. Give the purchasing power back to regular people.
because high rates gives purchasing power ?????
Thanks to the Trump admin, US has pre-2008 banking regulation.
the Fed will have to increase rates or lose credibility.
inflation bear attack
Imagine buying a US treasury bond 🫵🏻🤡
Fed meeting is next freaking week you mofos! Whats wotht he stupid crash?
But Wall St. is now pouring into small banks as well as commercial real estate, all because they think the Fed pause is magically going to make them profitable? Everything is only about the Fed, it seems nothing else matters.
All you can come up day after day is either up or down since investors waiting for fed. If that's all you can do why don't you just ssshhh until there's really something new?
Wait... what?
Our hefty and fat investors will push the price till next friday. Let’s enjoy ugly US investors’ party!
U.S. stocks are falling as investors react to Bank of Canada interest rate hike. An indication of next Fed direction?
US stocks are even up if some CEO fart while waiting for Fed meeting
Prepare? 😂
This is what you get when just copying headlines from previous days. Anything but going up lol.
Not rising on my screen.
With all maturity extention and add-up debt, any economy can get some expansion. How long can this disgusting u.s. idiot investors drive this ugly system upwards? Let’s see and enjoy while we are jumoing on the bandwagon. Keke
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