Ultra T-Bond Futures Market News and Commentary
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The S&P 500 Index ($SPX) (SPY) on Thursday closed down -0.58%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -0.75%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.44%.
U.S. stock indexes Thursday extended Wednesday’s sharp losses, with the S&P 500 and Nasdaq 100 falling to 1-week lows and the Dow Jones Industrials dropping to a 14-month low. Stocks fell on concerns about economic growth prospects against a backdrop of rising inflation and tighter Fed policy.
Disappointing earnings results from Cisco Systems and Kohl’s weighed on the overall market Thursday on concern rising inflation is eating into corporate profits. Also, rail stocks tumbled Thursday after Citigroup downgraded the sector. Weaker-than-expected U.S. economic data Thursday also weighed on stocks.
Kansas City Fed President George said inflation is too high, and the Fed needs to bring that down. She said she is "very comfortable" with the Fed raisin... Read more