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U.S. Stocks Rise as Investors Try to Break Losing Streak

Stock Markets Sep 27, 2022 10:23AM ET
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By Liz Moyer

Investing.com -- U.S. stocks rose after a sell-off on Monday that sent the Dow into bear market territory as investors worry about the risk of recession.

At 10:19 ET (14:19 GMT), the Dow Jones Industrial Average was up 173 points or 0.6%, while the S&P 500 was up 0.8% and the NASDAQ Composite was up 1.3%.

Investors have been worried about the pace of interest rate hikes by the Federal Reserve, which is determined to tame inflation despite the risks that poses. Three successive 0.75-percentage-point increases have sparked a stampede away from risky assets and sent the dollar soaring.

The odds are putting it at a 72% probability of another 0.75-point move at the Fed’s November meeting, Reuters reported.

The rising dollar is vexing other currencies. Britain’s pound fell below $104 on Monday before ticking higher as investors were skeptical about the new prime minister’s tax cuts. Late Monday, the Bank of England said it wouldn’t hesitate to act on rates.

U.S. home prices fell in July for the first time in two years as rising borrowing costs and shrinking confidence caused would-be buyers to hold back. But new home sales in August were 685,000 on an annualized basis, beating expectations, and the reading on consumer confidence was 108, higher than the 104.5 expected.

The national index of housing prices compiled by the Federal Housing Finance Agency fell 0.6%, its first monthly decline since May 2020. S&P Global said house prices fell 0.4%, the first monthly decline since 2017.

Shares of Hertz Global Holdings Inc (NASDAQ:HTZ) rose 6% after it announced a plan with BP (NYSE:BP) to build a national network of electric vehicle charging stations.

Oil rose. Crude Oil WTI Futures was up 2.8%, to $78.88 a barrel, while Brent Oil Futures crude was up 3%, to $85.30 a barrel. Gold Futures rose 0.6%, to $1643.

U.S. Stocks Rise as Investors Try to Break Losing Streak
 

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Comments (6)
Tom Michaels
Tom Michaels Sep 27, 2022 12:29PM ET
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What happened, typical manipulation.
Kaushal Shah
Kaushal Shah Sep 27, 2022 11:03AM ET
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y investor's? where is Goldman, & other fund house's? only small investor's taking burden. I feel they have given up from investing only small invstoers are taking burden. pathetic way of leaving investors on gods hand. they are trying to save economy & stock prices.
Mitchel Pioneer
Mitchel Pioneer Sep 27, 2022 10:54AM ET
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How about that flagrantly predictable, criminal breaker fire at 10AM?  Is the FRAUD obvious enough?  BIGGEST INVESTMENT JOKE IN THE WORLD.
Prabhat Negi
Prabhat Negi Sep 27, 2022 10:54AM ET
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you have a problem if it goes up , you have a problem if it goes down .. interesting
Prabhat Negi
Prabhat Negi Sep 27, 2022 10:54AM ET
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and if it's so predictable then why aren't you the richest person in the world already?
Vivek Sidharthan
Vivek Sidharthan Sep 27, 2022 10:27AM ET
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All these turmoil was expected when the money was pumping into the frozen market due to covid pandemic calling as economic reforms. Now all these additional money needs to taken out causing a worry on global recission
Prabhat Negi
Prabhat Negi Sep 27, 2022 10:21AM ET
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fools consumer confidence is higher.. inflation is not going away soon.. those saying inflation is back dated data are real noobs when month on month consumer confidence is going up
SquadW Name
SquadW Sep 27, 2022 10:09AM ET
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buffet has been buying alot recently
 
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