The S&P 500 reversed higher 0.7% while the Nasdaq composite was up a meaty 1.4%. The Dow Jones Industrial Average climbed 0.3%. Indexes were near session highs at midday. Read More...
Reuters
S&P 500 down as Microsoft slips; Fed official’s comments weigh
The S&P 500 and the Dow lost ground on Thursday after Microsoft made a surprise cut to its earnings outlook and comments from a Federal Reserve official quashed recent optimism about an eventual pause in the central bank’s rate hike moves. Seven of the 11 major S&P sectors fell, with healthcare, utilities and consumer staples stocks leading the declines. Fed Vice Chair Lael Brainard said she thinks a half-point rate hike in the next couple of Fed meetings is reasonable, and sees little case for pausing rate hikes in September.
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