Investors fear more interest rate hikes could come this year
Wall Street closed Thursday mixed, with the Nasdaq logging its fourth-straight loss as tech struggled amid concerns over potential future interest rate hikes from the Federal Reserve. The S&P 500 also handed in a loss following a slew of economic updates, while the Dow managed a modest win, and the VIX snapped its three-day win streak.
Continue reading for more on today's market, including:
- Why options traders are blasting this tech stock.
- All the economic data and earnings due out next week.
- Plus, September's sluggish start; blue chip bull note; and an AI firm's earnings.
5 Things to Know Today
- The Senate voted to confirm Democrat Anna Gomez to the Federal Communications Commission (FCC) to end a yearslong deadlock at the agency. (CNBC)
- U.S. Democrats and Republicans are battling over the cause of rising home-insurance rates, with a 21% surge since 2015. (MarketWatch)
- Don't start sweating the pullback just yet.
- Analyst bets on blue-chip fast food stock.
- Unpacking C3.ai's earnings report.
Crude Snaps 9-Day Win Streak
Oil prices pulled back slightly today, snapping a nine-day win streak. Crude for October delivery fell 67 cents, or 0.8%, to settle at $86.87 per barrel for the day.
Gold prices fell for a third-straight session Thursday, as investors continue to search for cues concerning future interest rate moves. December-dated gold lost $1.70, or 0.1%, to settle at $1,942.50 an ounce for the day.