|
Sell America Is the New Trade on Wall Street The New York TimesDollar Slide a Sign of Global Investor Hedging, Federated Says Bloomberg.com‘Sell America': is US market supremacy under threat? The EconomistThe 'depreciation trade' is making a comeback, are U.S. assets facing a 'quiet exit'? ????Is the world losing faith in the US economy? ThePost.co.nz
|
|
Stock Market News, Jan. 30, 2026: Silver Plunges, Nasdaq Falls Following Trump Fed Pick The Wall Street JournalWhy Wall Street is unhappy with Trump's pick for Fed chair Axios3 things to know about Kevin Warsh, Trump's pick for Fed chair PBSHow a Famed Economist Views Kevin Warsh for Fed Chair Politico
|
RELATED ARTICLES | | |
|
The nomination of Kevin Warsh "avoids a lot of the worst-case scenarios, but it's still unclear what impact he will have on rates," one strategist said.
|
|
It was a choppy start to the short trading week, with stocks spending time in both positive and negative territory Tuesday. Bears gained the upper hand in the afternoon, though, with the three major indexes ending another day in the red.
SEE MORE The ESG Investing Backlash
Although this week's economic calendar is fairly thin, data from the Institute for Supply Management (ISM) this morning showed that activity in the services sector ticked up to 56.9% in August - the highest level since April - from July's 56.7%.
"This is the most recent piece of data to suggest the economy remains resilient and as such the market takeaway is that this gives the Fed more room to continue raising rates," says Michael Reinking, senior market strategist for the New York Stock Exchange. "Futures markets are now pricing in a 75% chance of a 75 basis-point hike later this month from a coin flip late last week." A basis point is one-one hundredth of a percentage point.
In reaction to today's ISM data, the 10-year Treasury yield rose to its loftiest level since mid-June. This, in turn, weighed on shares in the communication services (-1.3%) and technology (-0.6%) sectors, with names such as streaming giant Netflix (NFLX, -3.4%) and chipmaker Intel (INTC, -2.8%) seeing notable declines.
Sign up for Kiplinger's FREE Investing Weekly e-letter for stock, ETF and mutual fund recommendations, and other investing advice.
As for the major indexes, the tech-heavy Nasdaq Composite fell 0.7% to 11,544, its seventh straight loss.
|
|
