Stock Market Overview
What you need to know…
The S&P 500 Index ($SPX) (SPY) on Friday closed down -0.16%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.23%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.78%.
U.S. stock indexes on Friday settled mixed. Stock indexes were under pressure Friday as the stronger-than-expected U.S. July payroll report bolsters the outlook for the Fed to raise interest rates by another +75 bp at the September FOMC meeting. In addition, higher T-note yields undercut stocks as the 10-year T-note yield jumped to a 2-week high of 2.867% on strength in U.S. payrolls and continued wage pressures.
Fresh tensions with China also weighed on U.S. stocks. Friday, China escalated tensions with Taiwan as it continued its provocative military drills and sent warships and aircraft across the Taiwan Strait's median line. China also cut off defense talks with the U.S. in retaliation for House Speaker Pelosi's visit to Taiwan.
The stronger-than-ex... Read more
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BEIJING (AP) — China’s export growth continued to rise in July, sending trade surplus to a record high, according to government data.
Amid escalating geopolitical tensions sparked in part from the prior week’s events, all eyes are on the Federal Reserve again as it navigates a perplexing economic situation.
What was the reason the stock market immediately sold off at 8:30 AM EST? Is the Federal government telling us the truth about not being in a recession, or are we heading into one with the upcoming decisions?...
BEIRUT (AP) — A ship bringing corn to Lebanon’s northern port of Tripoli normally would not cause a stir. But it's getting attention because of where it came from: Ukraine’s of Odesa.
NEW YORK (AP) — Tens of thousands of flyers had their travel plans upended Friday after airlines canceled about 1,400 U.S. flights as thunderstorms hit the East Coast.