Summary
Stocks were largely flat on Friday morning, steadying after several days of sharp losses, as investors continued to focus on economic weakness in China, rising bond yields, and the Fed’s next interest rate decisions. The CME Group’s FedWatch Tool currently projects just a 10% chance of a rate hike in September, but a higher 30% chance of an increase at the November meeting. However, based on recent economic data and the FOMC meeting minutes earlier this week, many investors also expect the Fed to delay any rate cuts and leave high current rates in place for longer in 2024. The Dow rose 0.2%, the S&P was flat, and the Nasdaq fell 0.2%. Crude oil rose slightly to $81 per barrel, while gold rose $6 to $1922 per ounce.
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Source: finance.yahoo.com