The Fed anticipates rate hikes in 2023
| 8/04/2021 | | Have you seen our volatility scorecard? Sign up by clicking here! | Dow Falls as Jobs Data, Clarida Comments Weigh | By: Jake Scott | The Dow erased all of yesterday's gains to close 323 points lower, its worst single-session fall since July 19. The ADP private payroll survey weighed on the broader market, as well as comments from Fed vice-chair Richard Clarida that the central bank could resume interest rate hikes by 2023. The S&P 500 also finished in the red, while the tech-heady Nasdaq notched a close just above breakeven. Elsewhere, the 10-year Treasury yield trimmed earlier losses after the ISM Services purchasing managers' index for July finished at record a record high, and the Cboe Volatility Index (VIX) pulled back for a small loss. Continue reading for more on today's market, including: - This FAANG stock is one of the best to own in August.
- Options bulls are blasting Redfin stock ahead of earnings.
- Plus, unpacking Activision Blizzard's earnings; why Amgen stock shouldn't be counted out; and Live Nation ticket sales surge.
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