On Friday, October 20, U.S. stock markets closed in red as investors worried about potential interest rate increases and the expanding Israel-Hamas conflict. All 11 S&P 500 sectors experienced declines, with technology and financials leading the downturn. The third-quarter U.S. earnings season is in full swing, with 86 S&P 500 companies having reported their results. The Dow Jones Industrial Average declined by 0.86% to 33,127.28, the S&P 500 dipped 1.26% to 4,224.16, while the Nasdaq Composite
The yield on the 10-year Treasury note briefly eclipsed 5% this week amid signs that the Federal Reserve might end up keeping interest rates high for longer, portending higher borrowing costs for the federal government and for households.
How Much Will It Cost to Defeat Inflation? The economic cost of the battle against inflation is only beginning to emerge, but there are mounting signs that Europe could be among the hardest.
(Bloomberg) Federal Reserve officials at their policy meeting in July largely remained concerned that inflation would fail to recede and that further interest-rate increases would be needed. At the same time, cracks in that consensus were also becoming more apparent.Most Read from BloombergGoldman CEO’s Most Loyal Deputy Is Tested by Mutinous PartnersFed Saw ‘Significant’ Inflation Risk That May Merit More HikesStocks, Bonds Fall as Rate Hikes Left on the Table: Markets WrapChina Shadow Bank