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U.S. Stocks Muted as Investors Await Clarity on Rates From Fed

AuthorLiz Moyer
Published 08/24/2022, 09:52 AM
Updated 08/24/2022, 09:56 AM
© Reuters.

By Liz Moyer

Investing.com -- U.S. stocks were muted in light trading as investors await clarity on the next move in interest rates.

At 10:48 ET (14:48 GMT), the Dow Jones Industrial Average was down 3 points, or flat, while the S&P 500 was up 0.1% and the NASDAQ Composite ticked up 0.3.%

The Federal Reserve doesn’t meet until next month to decide the next move on rates, but it is meeting this week at its annual conference in Jackson Hole, Wyo. Chair Jerome Powell is scheduled to speak on Friday and is expected to confirm the central bank’s focus on taming inflation.

Investors have been placing their bets on the Fed’s move in September, with some favoring a half-point interest rate increase and others forecasting a 0.75-point hike. Some are worried that the Fed will go too far in its quest to cool inflation, tipping the U.S. into a recession.

Economic data is feeding investor concerns. On Tuesday, new data showed that private-sector business activity slowed for the second month in a row, especially in services.

Meme stock favorite Bed Bath & Beyond Inc (NASDAQ:BBBY) jumped 11% on news it arranged a loan to build cash and pay down debt. Nordstrom Inc (NYSE:JWN), meanwhile, fell more than 18% after it cut its full year forecast, saying even higher-income shoppers are being choosier about their purchases.

Oil fell. Crude Oil WTI Futures fell 0.2% to $93.52 a barrel while Brent Oil Futures crude fell 0.3% to $99.94 a barrel. Gold Futures was flat around $1,762.

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Latest comments

Another magic show in the criminally manipulated joke called the US Ponzi Scheme.  The legalized financial defiling of America continues.
How can it be both criminal AND legalized?
Long and STRONG BABY! Shorts about to get squeezed and blasted through the 200 DMA. Next stop 4600! Doomers are right, this economy **** but the markets ain't the economy!
Ahh yes astrology
 Hey Federico did you see the this chart today? Price is headed for the 200 DMA like I said. Better cover your shorts!
anyone please tell me where can I see calender of fed meetings and announces???
Friday 7 30
minimum 3.20% hike is expected 🤐🤐🤐🤐🤐🤐🤐🤐🤐🤐🤐
We have enough advertising on this site. No one needs more from the uninvited solicitors who push some crypto guru in comments section. Readers, don't buy anything these cheesy solicitors push. Site Admin,, please block ads in comments.
some say the same thing over and over but the site is not putting on filters
10AM breaker fires right on schedule.  Criminally manipulated, predictable joke.
they are just going to say the same thing they said a month. there isn't much mystery. it's those that are nonsensically coming up with a dovish fed pivot ideology that are hoping for new information.
  This site's "Fed Rate Monitor Tool" says 60% odds for 0.5% hike vs. 40% for 0.75%.  The Fed tends to do what the market expects.
 also incorrect.   the fed does not look at what the market expects.   That is silly stuff.  There will be another data point before the next Fed decision, so today's FRM means nothing.   The issue is we have REAL inflation which needs Volker-style fed hikes.  Energy continues to go up as do commodities like wheat.  wage inflation is up, and that has to be curtailed.   There will not be just "one more hike" of 50 or 75 but continued hikes with prolonged pain in the economy if they continue with tiny hikes.
 Good luck trading if you disagree w/ "The Fed tends to do what the market expects."
So long as Biden keeps pumping money into the economy there will be inflation and the Fed is not willing to do what is needed to stop it.
anyone watching the bond market can see that they're not
 actually not true, they are short $40B in what they projected they would sell.  The real tightening won't start until September. its going to have a pretty serious affect but retail keeps driving stock up like we will somehow return to 2021 highs under QE and 0% interest rates.
www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm
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