![]() ![]() The Federal Reserve will also announce its latest move on interest rates Thursday. government is scheduled to release the latest monthly updates on inflation at the consumer and wholesale levels. That’s why much of Wall Street’s focus is on next week. But the threat still looms, and Wall Street is questioning which will come first: a recession or inflation falling enough to get the Federal Reserve to cut interest rates? The market in general has climbed for months thanks to a resilient economy that’s managed to defy predictions for a recession. ![]() On the winning side of Wall Street was Dave & Buster’s, which jumped 18.3% after reporting stronger profit for the latest quarter than expected.īrown-Forman rose 4% after the spirits company reported stronger profit than expected for the latest quarter, thanks in part to growth for its Woodford Reserve brand. The Fed will make its own decision on rates next week. Yields climbed after the Bank of Canada raised its policy interest rates on Wednesday, surprising some investors after it had left rates steady since January. But tech stocks are seen as some of the hardest hit by higher interest rates, and yields were on the rise in the Treasury market. It’s a reversal from much of this year, where a narrow group of high-growth stocks led the way on hopes for easier interest rates from the Federal Reserve and excitement around artificial intelligence. Because they’re some of Wall Street’s most valuable stocks, their movements pack extra punch on the index. Microsoft, Amazon, Nvidia and Alphabet all sank at least 3% and were the heaviest weights on the S&P 500. The S&P 500 fell 16.33, or 0.4%, to 4,267.52 even though the majority of stocks within the index rose. stocks drifted to a mixed finish Wednesday, as drops for Microsoft and other big-name tech stocks overshadowed gains across much of the rest of Wall Street. ![]()
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