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More on Morgan Stanley projecting 5 Federal Reserve interest rate hikes

  
  Analysis
  • “Although the contours of our outlook for inflation and labour markets has not changed, aspects of the Fed’s reaction function may have.”
  • Powell’s recent comments are suggestive of the FOMC is now placing a higher priority on price stability in order to sustain strength in the labour market.

MS also said, on the US dollar:

  • will continue to rally against its peers in the coming months

US stocks lower. NASDAQ tumbles. S&P falls. Dow unchanged

  
Analysis, US Market

The major US stock indices are ending the day mixed with the Dow industrial average unchanged, the S&P falling and the NASDAQ index tumbling. You can also say the small-cap Russell 2000 index tumbled as well.

  • The NASDAQ index closed -4% from its all-time high
  • Dow industrial average closed -2% from its all-time high S&P
  • NASDAQ index snapped a three day win streak
  • The Dow industrial average is on track for its largest weekly gain since March
  • the S&P is on pace for its largest gain since February

The final numbers are showing:

  • ow industrial average fell -0.06 points or 0.0% at 35754.68
  • S&P index felt -33.78 points or -0.72% at 4667.44
  • NASDAQ index fell -269.61 points or -1.71% at 15517.38
  • Russell 2000 -51.5 points or -2.27% at 2220.20

Some big losers today included a number of the meme stocks: (more…)

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