CNBC Daily Open: Prepare for higher rates
Publishing timestamp: 2023-07-05 19:49:33
Summary
The Federal Reserve is expected to continue raising interest rates, but at a slower pace. The release of the Fed minutes caused U.S. stocks to lose ground. The average temperature on Earth reached a record high, and scientists warn of further temperature increases. Instagram launched a new messaging app called Threads. Bank of America expects a wider rally in the stock market. Investors are now betting on a higher chance of a rate hike at the next Fed meeting. The markets fell in response. The Fed minutes also showed optimism about the U.S. economy avoiding a recession. The upcoming jobs report will be important in determining the state of the economy.
Sentiment: MIXED
Tickers: .IXIC, .DJI, META, .SPX,
Keywords: federal reserve bank, world markets, business news, climate, s&p 500 index, dow jones industrial average, technology, nasdaq composite, prices, meta platforms inc, markets, interest rates,
Source: https://www.cnbc.com/2023/07/06/stock-markets-prepare-for-higher-rates.html