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| Economy |
| Dow Jones Today: Stocks Gain Ahead of Fed Rate Decision |
| 2023-09-20 |
| [Investopedia] U.S. stocks were up Wednesday morning ahead of the Federal Reserve's latest interest rate decision, with investors watching closely for hints of future rate hikes. The Dow Jones Industrial Average rose 0.4% in early trading, while the S&P 500 gained 0.2%. The Nasdaq hovered around flat. Policymakers are widely expected to hold rates steady in response to cooling in the labor market, which is expected to help ease inflation. But the Fed has signaled it's leaving its options open, and markets will be sensitive to any indication that rates are likely to go up when it reconvenes in November. The IPO parade started by Arm (ARM) last week continues today with marketing software firm Klaviyo debuting on the New York Stock Exchange after pricing its shares at $30, valuing the company at about $9.2 billion. It will trade under the symbol "KVYO." Stocks dipped yesterday and some Treasury yields rose to their highest since 2007 as investors considered the possibility of the Fed sticking to their "higher for longer" messaging today. |
| Posted by:Besoeker |
| #3 Fed holds steady on interest rates but hints a further hike could be on the way this year - what does it mean for YOUR pocket? |
| Posted by: Skidmark 2023-09-20 16:53 |
| #2 We've had two bad months in a row now (July, Aug) regarding inflation with month over month rate greater than June. If Sept and October are also bad the Fed will almost certainly up the rate by another 25 basis points. Of course the UAW strike, the Kaiser Permanente strike and consumers running out of borrowing may deflate the economy enough that this rate increase isn't necessary. We'll see. |
| Posted by: lord garth 2023-09-20 15:23 |
| #1 ....(SOUND OF MY 401K COUGHING WEAKLY BEFORE HAVING YET ANOTHER NEAR-DEATH EXPERIENCE) Mike |
| Posted by: MikeKozlowski 2023-09-20 10:42 |