Stocks gyrate, dollar gains as Fed keeps hawkish stance
- Stocks and yen struggle as tech troubles weigh
- Meta shares dip on softer Q2 revenue guidance, elevated AI spending plans
- Oil steady as US demand concerns balance Middle East conflict risks
- Yen hits fresh 34-year lows against dollar ahead of BOJ meeting
- IBM tumbles on soft Q1 revenue; announces HashiCorp $6.4bn acquisition
- IBM tumbles on soft Q1 revenue; announces HashiCorp $6.4bn acquisition
- Hasbro (HAS) brand strength sees earnings top expectations
- Meta Platforms (META) Tops Q1 EPS by 39c, Offers Guidance
- Seagate Technology (STX) Enters $600M Asset Purchase Agreement with Avago
- Crude Inventory Declined 6.4 Million Barrels Last Week
- After-hours movers: Meta, Ford, IBM, ServiceNow and more
- Midday movers: Tesla, Boeing rise; Uber, Old Dominion Freight fall
- After-hours movers: Tesla, Texas Instruments, Seagate, Visa and more
- Midday movers: PepsiCo, JetBlue fall; GM, Danaher and UPS rise
- After-hours movers: Cadence Design Systems, Cleveland-Cliffs, Riot Platforms, and more
Adam Crisafulli of Vital Knowledge on Market Rally: 'If the market wants to have a 'could have been worse' rally, so be it, but it won't last long, winter is still coming'
September 21, 2022 3:23 PM EDTAnalyst Adam Cr of Vital Knowledge comments "How bears view the Fed anyone who tries to spin this announcement as bullish is nuts. The Fed has jacked up rates 300bp already this year and it will do another 125bp before 12/31 (75bp on 11/2 and 50bp on 12/14) coupled with ~50bp in 2023 while... More
Wells Fargo Puts Fed Funds Peak at 4-4.25 Percent, 'We expected a downshift to 50 bps at the November FOMC'
September 21, 2022 3:21 PM EDTWells Fargo Chief Economist Jay Bryson comments "At the start of the year, the Federal Reserve was still easing monetary policy via purchases of Treasury securities and mortgage-backed securities. Just nine months later, the median FOMC participant expects the federal funds rate to finish the year 4.4%, a rate not... More