Stocks Scatter After Fed Chair Raises Hawkish Alarm

The Nasdaq is looking to close out its best first half in four decades

Deputy Editor
Jun 28, 2023 at 4:26 PM
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Wall Street finished Wednesday mixed, following hawkish comments from U.S. Federal Reserve Chairman Jerome Powell. The tech-heavy Nasdaq finished today's session slightly higher, and is on pace to close out its best first half in 40 years thanks to optimism surrounding artificial intelligence (AI). Elsewhere, the Dow and S&P 500 finished lower, as did Wall Street's "fear gauge," the Cboe Volatility Index (VIX).

Continue reading for more on today's market, including:

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5 Things to Know Today

  1. Florida Gov. Ron DeSantis' attorneys want the trial surrounding Walt Disney's (DIS) civil lawsuit to be scheduled after the 2024 presidential election. (CNBC)
  2. According to reports, Google-parent Alphabet (GOOGL) violated its own standards when placing video ads on third-party websites. (MarketWatch)
  3. The sector to avoid next week.
  4. Analyst notes upside for Pinterest stock.
  5. Potential chip restrictions impact Nvidia stock.

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Gold Prices Settle at More Than 3-Month low

Oil futures jumped after an Energy Information Administration (EIA) report showed a fall in U.S. crude supplies. August-dated crude added $1.86, or 2.8%, to close at $69.56 per barrel for the day.

August-dated gold shed $1.60, or 0.1%, to close at $1,922.20 an ounce, settling at a more than three-month low amid expectations of more interest rate hikes ahead.

 

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