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U.S. stocks are mixed as recession fears take hold

Stock Markets Dec 07, 2022 10:40AM ET
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By Liz Moyer

Investing.com -- U.S. stocks are mixed as fears about a possible recession overcame the good news about China relaxing its COVID-19 restrictions.

At 10:36 ET (15:36 GMT), the Dow Jones Industrial Average was up 81 points, or 0.2%, while the S&P 500 was flat and the NASDAQ Composite was down 0.6%.

China is dropping testing for domestic travel. That comes after widespread protests about its COVID rules.

Still, investors in the U.S. are facing next week’s meeting by the Federal Reserve, which is expected to raise interest rates again as it tries to tame inflation. Some are concerned that the tightening will ultimately tip the U.S. into a recession, and that fear was reinforced by comments on Tuesday from top Wall Street bankers.

JPMorgan’s CEO Jamie Dimon said inflation and rising interest rates would whittle away the savings people accumulated over the last couple of years and put pressure on the economy, with the possibility of a recession next year.

Many expect the Fed will raise rates by a slightly slower pace than it has at each of its last four meetings. Recent comments from Fed officials suggest rates will remain higher for longer than people had forecast.

Campbell Soup Company (NYSE:CPB) shares rose 4.8% after it beat estimates for adjusted profit and revenue on improvements in the supply chain and strong pricing. Toll Brothers Inc (NYSE:TOL) stock rose more than 5% as the home builder also cited pricing for helping it beat revenue and profit expectations for the recent quarter.

Oil wobbled. Crude Oil WTI Futures were down 0.1% to $74.15 a barrel, while Brent Oil Futures crude was flat around to $79.34 a barrel and Gold Futures rose 0.5% to $1792.

U.S. stocks are mixed as recession fears take hold
 

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Comments (6)
Dec 07, 2022 11:02AM ET
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us30 target 33932
Naharani HS
Naharani HS Dec 07, 2022 11:00AM ET
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Sell on Rise... and the trap begins..
First Last
First Last Dec 07, 2022 11:00AM ET
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Non-drama queens just call them reversals, something that happens a lot.
Stan Smith
Stan Smith Dec 07, 2022 10:57AM ET
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Recession fears were terrible for stocks earlier this morning, but looks like they are good for stocks now...lol
Mitchel Pioneer
Mitchel Pioneer Dec 07, 2022 10:54AM ET
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Another miracle "recovery" in the biggest investment JOKE in the world.  The FRAUD gets more flagrant by the day.
First Last
First Last Dec 07, 2022 10:54AM ET
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Generally, rallies and dips happen everyday in every market.
Prabhat Negi
Prabhat Negi Dec 07, 2022 10:33AM ET
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lol nice headline.. were falling ... later it will change to no longer falling 🤑
Paul Ofo
KristtyPea Dec 07, 2022 10:33AM ET
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Already flashing green at the US stocks market. The media is always what is has been, a tool for propaganda. You need to read what is not said to get the clear picture of what is really going on.
John Lakran
John Lakran Dec 07, 2022 10:15AM ET
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Where did the fear come from as there was No fear last week with the relentless buying and now there seems to be fear with relentless selling?
Carlos GV
Carlos GV Dec 07, 2022 10:15AM ET
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LOL Welcome to LAS VEGAS
TheEnd IsNigh
TheEnd IsNigh Dec 07, 2022 10:15AM ET
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These market movement excuses are the same as Anchorage, AK, weather. Wait 15 minutes and it'll change.
 
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