Stock Market

Stocks Fall As Investors Digest Fed Messaging

  • US stocks ended lower on Monday, losing steam after last week’s huge rally. 
  • Investors digested comments from Fed officials. Vice chair Lael Brainard said the pace of rate hike could soon slow. 
  • Crypto was still dealing with the fallout from FTX’s collapse,with bitcoin hovering at two-year lows.  

US stocks fell on Monday, losing steam after a blistering rally last week as investors digested messaging from Federal Reserve officials on the path of monetary policy. 

Investors waiting on earnings reports from prominent retailers this week including Walmart and Target. Meanwhile, markets were absorbing comments from Fed governor Christopher Waller over the weekend, stating it was too early for investors to get excited about easing monetary policy. That message conflicted slightly with comments on Monday from Fed Vice Chair Lael Brainard, who suggested the central bank could soon start slowing its pace of rate hikes. 

Bitcoin was still weighed down by chaos in crypto markets sparked by the collapse of FTX, trading slightly above $16,200, not far from its lowest point in two years.

Here’s where US indexes stood at the 4:00 p.m. closing bell on Monday:

Here’s what else is going on today: 

In commodities, bonds, and bitcoin:

Source link

Leave a Comment