Hawkish Warsh speech lifts rate-hike odds as stocks drift lower on Friday
TL;DR Summary
U.S. stocks fell on Friday as Fed Chair Kevin Warsh’s Jackson Hole remarks pushed odds of a September rate hike higher (about 57%), leaving the Dow essentially flat, the S&P 500 down around 0.25%, and the Nasdaq down about 0.5%. Treasuries sold off with higher yields, Nvidia cheered earnings for the tech rally, PayPal slumped after Advent and Stripe scrapped a takeover bid, and the week nonetheless ended with gains for the three major indices.
- Stock market today: Dow, S&P 500, Nasdaq end week on down note as rate-hike bets jump Yahoo Finance UK
- Stock traders warm up to Warsh as volatility index touches year-to-date low CNBC
- Stock Market Today: Dow, S&P 500 and Nasdaq decline, and bond yields and dollar rise, as Warsh fuels higher-rate outlook MarketWatch
- The bond market prepares for a hike to interest rates, while US stocks drift lower AP News
- The Fed Just Delivered A Warning To Markets Seeking Alpha
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