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U.S. Stocks Fall as Investors Await More Direction From Fed

Stock Markets Aug 19, 2022 09:59AM ET
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By Liz Moyer

Investing.com -- U.S. stocks fell early Friday, putting things on track for the S&P 500 to break a four-week rally as investors waited for more direction from the Federal Reserve.

At 10:35 ET (14:35 GMT), the Dow Jones Industrial Average fell 229 points, or 0.7%, while the S&P was down 1% and the Nasdaq fell 1.7%.

Stocks have been rising since July as investors anticipate the Fed taking its foot off the gas pedal a bit and slowing the pace of its interest rate hikes. The Fed is trying to tamp down inflation without tipping the economy into recession, and the minutes of its July meeting indicated some policymakers were worried about overshooting the mark.

Some Fed officials in recent days have suggested otherwise, however. St. Louis Fed President James Bullard was inclined for another 0.75 percentage point increase, he said on Thursday, and Kansas City Fed President Esther George said the board wouldn’t stop until it was “completely convinced” inflation is dissipating.

San Francisco Fed colleague Mary Daly called another 0.50 to 0.75 point increase "reasonable.” The Fed is scheduled to meet in September to make its next rate move.

Meme stocks have been a focus this week, led by the remarkable volatility of Bed Bath & Beyond Inc (NASDAQ:BBBY), which is on the downward slope after activist investor Ryan Cohen sold all his shares. Bed Bath was down more than 39% in morning trading.

Deere & Company (NYSE:DE) profit missed expectations while revenue was better than expected. The farm equipment maker is facing rising costs and cut its outlook. Shares fell 0.7%.

Foot Locker Inc (NYSE:FL) shares jumped 22% after it announced a new CEO, Mary Dillon, formerly of Ulta Beauty (NASDAQ:ULTA), who will move in Sept. 1 to succeed Richard Johnson.

Oil rose. Crude Oil WTI Futures traded up 0.7%, to $91.14 a barrel while Brent Oil Futures rose 0.3% to $96.90 a barrel. Gold Futures fell 0.6% to $1759 an ounce.

U.S. Stocks Fall as Investors Await More Direction From Fed
 

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Comments (18)
Marco cuevas
Marco cuevas Aug 19, 2022 12:06PM ET
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Perfect example of the manipulated stock market in tje US you can make any excuse or rather "print" any excuse fake financial journalism wants but on fridaymbig money uses their $$$ to push prices right or left to justify their OPTIONs!
James Hilsher
JCH007 Aug 19, 2022 11:15AM ET
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Purposely orchestrated FUD Friday to destroy options.
Ronald Warren
Ronald Warren Aug 19, 2022 11:15AM ET
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Last month they wiped out every put in existance!
Ady Brîndoiu
Ady Brîndoiu Aug 19, 2022 11:13AM ET
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this week the s&p reached the 200dma, and also there is option expiration friday so there you go the reasons
Bruno Diaz
Bruno Diaz Aug 19, 2022 11:03AM ET
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It seems, It'll be lot of Bullish Blood for the Sharks, in the near Future...
Antonio Velardo
Antonio Velardo Aug 19, 2022 11:00AM ET
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Thomas Barking is messing up.
Ac Tektrader
Ac Tektrader Aug 19, 2022 11:00AM ET
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Jennings..yes, the 3rd Reich had the right idea. I'm sure you would agree.... we know we're your loyalties lie and it's not with the American Constitution.
Ricky Singh
Ricky Singh Aug 19, 2022 10:59AM ET
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Fed this fed up your fed a**
Ricky Singh
Ricky Singh Aug 19, 2022 10:58AM ET
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Cut this crap … everyday investors wait for more signs .. postive signs are only for a day and then these corruots start spreading fear and manipulate markets !!!All done to loot retail
Ronald Warren
Ronald Warren Aug 19, 2022 10:52AM ET
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It's been too long since we woke up to a red Monday. Next week!
David Beckham
David Beckham Aug 19, 2022 10:48AM ET
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Short to no bottom rasy
 
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