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Plus, oil prices surge above $107 a barrel and wholesale inflation picks up.
US stocks fell on Thursday as oil prices climbed above $100 a barrel, fuelling concerns over inflation and increasing expectations that the Federal Reserve could raise interest rates next week. The Dow Jones Industrial Average fell 400 points, or 0.76%, while the S&P 500 declined 0.65%.
Jeremy Siegel, WisdomTree chief economist, joins 'Closing Bell' to discuss the latest action in equity markets, the Federal Reserve and much more.
Bullish sentiment decreased 1.8 percentage points to 38.0%. Neutral sentiment was unchanged at 22.7%.
Investors looking beyond megacap tech may like what they see With a handful of stocks attracting most of the recent headlines, it's easy to forget that investors continue to find opportunities across a broad range of sectors. Case in point: The S&P 500 Equal Weight Index is up 15.
Investors are taking a more cautious tack as rising bond yields and and a calendar riddled with risks — from Federal Reserve meetings to the U.S. midterm elections — inspire many to adopt a more cautious position.
The Middle East conflict overshadows outages in Russia and a ‘massive impact' on diesel supplies
The BLS will release the August consumer price index report Friday morning, with expectations for little change in the annual rate but a move higher in the headline monthly increase. Fed officials are due to vote next week on whether to keep interest rates where they are, or to hike.
A former Anthropic employee said he was quitting this week and that AI companies are “gambling with our lives.”
Rates had steadily tumbled to about 6% in late February, but reversed when the U.S. and Israel started the war in Iran, disrupting oil shipments and driving up inflation.
Treasury yields surged to post-2008 highs, driven by global rate hikes and persistent wholesale energy inflation. Odds of a Federal Reserve rate hike next week rose to 70% as inflationary pressures remain entrenched, especially in services.
Cooper Cos. stock has fallen about 25% since Barron's recommended it, but a low valuation, aggressive share buybacks, and takeover potential bolster the bull case.
Mark Zandi says the Iran war has added about $115 billion in costs for U.S. households through higher gasoline, diesel and jet fuel prices.
Elon Musk's Boring Co. is turning to the Middle East for funding as it pursues an ambitious project in the United Arab Emirates. The company said it raised $3 billion in funding at a $23 billion valuation with backing from the UAE and a roster of longtime Musk supporters.
The Boring Company, a tunneling startup that works closely with Tesla, just raised $3 billion through a private funding round.
