Gold Futures Market News and Commentary
What you need to know…
The S&P 500 Index ($SPX) (SPY) today is down -1.01%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -0.78%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -1.07%.
Stocks this morning are moderately lower, with the S&P 500 dropping to a 3-1/2 month low, the Dow Jones Industrials falling to a 3-month low, and the Nasdaq 100 sliding to a 5-week low. Concerns about the U.S. economy are weighing on stocks today after Aug new home sales fell more than expected to a 5-month low, and after the U.S. Sep consumer confidence index fell more than expected to a 4-month low.
Also, mega-cap technology stocks are falling today and weighing on the overall market on concerns that global central banks will have to keep interest rates higher for longer to combat inflation. In addition, hawkish Fed comments today are pressuring stocks after Minneapolis Fed President Kashkari said he expects the Fed will have to raise interest rates one more time this ye... Read more