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Rcd72
Jun 07, 2023 12:48PM ET
fed will raise rates!
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U.S. stocks are rising as investors weigh chances of Fed rate hike
Published Jun 06, 2023 09:50AM ET
Updated Jun 06, 2023 10:54AM ET
© Reuters.
Investing.com -- U.S. stocks were rising on Tuesday after dropping in early trading as investors continued to weigh the odds of another interest rate increase by the Federal Reserve.
At 10:52 ET (14:52 GMT), the Dow Jones Industrial Average was up 59 points points or 0.2%, while the S&P 500 was up 0.3% and the NASDAQ Composite was also up 0.3%.
The Fed is due to meet next week to decide the next step as economic data show the economy is cooling but the job market remains tight. Futures traders have a 75% probability that the Fed will pause on another hike next week, while slightly more than half of traders see a quarter of a point hike coming after that in July.
The next reading of the consumer price index, this time for May, is due out on Tuesday, just as the Fed starts its two-day meeting.
Fed policymakers are currently in a quiet period ahead of the meeting but last week several of them hit the speech circuit to make the case for a pause.
The prospect of a halt to interest rate increases has lifted stocks in recent weeks, especially tech stocks, pushing the Nasdaq higher.
Coinbase Global, Inc. (NASDAQ:COIN) shares fell 14% after the Securities and Exchange Commission sued the crypto exchange for operating an unregistered broker and exchange. Just on Monday, the SEC sued Binance and its founder for securities violations.
Shares of Apple Inc. (NASDAQ:AAPL) dipped 0.5% after showing off its first major new product in a decade: a $3,499 mixed reality headset.
Thor Industries, Inc. (NYSE:THO) shares jumped 15% after the maker of recreational vehicles reported stronger-than-expected earnings and revenue and raised its guidance for the year.
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Comments (12)
Jun 06, 2023 12:18PM ET
AI that controls enough stocks to move the market, Blackrocks Aladdin, doesnt care about fundamentals, its playing a game and turning retail investors into donors.
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Bob Bob
Jun 06, 2023 12:18PM ET
This is the problem with the market. The big guys can easily manipulate it. There are only about a dozen large firms controlling the market.
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Joe Cool
Jun 06, 2023 11:52AM ET
nobody buying bonds ,, WAKE UP
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John Appiah
Jun 06, 2023 11:52AM ET
Please how does buying of bonds affect gold performances?
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za ar
Jun 06, 2023 11:49AM ET
0.15%
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Bob Bob
Jun 06, 2023 11:22AM ET
We have never seen a market so disconnected from fundamentals, never seen a market fight the Fed. This continues to be the largest bubble in history.
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soho electronics
Jun 06, 2023 10:50AM ET
stocks don't go down. they can only go up. everyday they claim stocks going down. and voila stocks go up. there is tooooooo much money floating. stop fooling yourself
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Devin Nathaniel
Jun 06, 2023 10:50AM ET
and when the baloon start to burst, you could see a crash
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Scott Allen
Jun 06, 2023 10:50AM ET
No, you WILL see a crash. The original commenter needs to learn about P/E, then look at some of the P/E's of these garbage tech companies that are "leading the market." It's a complete joke. Put in market terms, it's a very sticky inefficiency, but it WILL flush out the braindead permabulls eventually. In the meantime, Wall St. would like another yacht....so we get this scam BS. But no, stocks don't "only go up"....
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Bob Bob
Jun 06, 2023 10:50AM ET
You hit the nail on the head, there is $15 tril of extra liquidity in the system because of Powell.
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Prakash Raja
Jun 06, 2023 10:37AM ET
Let SP 500 move towards 4550 + :-)
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perplexed76 .
Jun 06, 2023 10:24AM ET
investors don't care about Fed rate hike, financial parasites do
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Dot info
Jun 06, 2023 10:15AM ET
stocks going up today , us dollar down . mark my words
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Dot info
Jun 06, 2023 10:15AM ET
when you see that i have more dislikes than likes you know im right lol . it already started you still can enter but be carefull trading sp500 now because we have a big resistance that we will reach soon
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Derick Lim
Jun 06, 2023 10:13AM ET
Surprised not much AI or manipulative news to continue rally the market .
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