Here Are Wednesday’s Top Wall Street Analyst Research Calls: Bloom Energy, Dave, Fiverr, Humana, Las Vegas Sands, Lemonade, Procter & Gamble, SK hynix, Wix.com, and More Pre-Market Stock Futures: Futures are trading higher this morning after a brutal day across Wall Street on…
dnesday. The combination of the Iran war renewing, oil surging higher, and the continued semiconductor stock sell-off and rotation was just the catalyst needed to launch the selling
As expected, the Federal Reserve held interest rates steady. Still, this time three Governors dissented, so we may be closer to an increase in September if the July inflation data comes in hot. When the final bell rang, the Nasdaq was down 1.74% to close at 24,442, while the S&P 500 also posted a losing day, down 1.51% to end the session at 7,316.
The Dow Jones Industrials closed down a hefty 2.18% at 51,594, while the small-cap-heavy Russell 2000 was last seen at 2,906, down 1.60%. Treasury Bonds: Yields were mixed across the curve after Fed Chairman Warsh delivered the no-rate-increase news, with buyers coming in on the shorter maturities from the 3-year down to the T-bills, and sellers focusing on the belly of the curve and the long end. When the final bell sounded, the 30-year yield was up 11 basis points to close at 5.21%, while the benchmark 10-year note finished at 4.66%, up 0.075% Oil and Gas: The resumption of the conflict was all it took for oil to jump higher again on Wednesday.