American stock market indices are falling, with the S&P 500 experiencing it’s largest drop (~0.4%) [[1]]. Basic consumer goods are the weakest sector, while energy is showing gains. [[1]] Unemployment benefits in the US are at their highest level since June. The Stoxx 600 remains stable. The dollar and crude oil are increasing, while Bitcoin is down over 1.5% and gold is also declining.[[1]] The yield on the US Treasury at 10 years has risen to ~4.34%.
Wall Street is declining as investors await remarks from Federal Reserve President jerome Powell on Friday, seeking clarity on future monetary policy given recent job market weakness. [[1]] The nasdaq Composite has fallen for three consecutive sessions, its steepest three-day decline as April. Nine of eleven S&P 500 sectors are down,with basic consumer goods leading the losses at 1.2%. [[1]]
Walmart (WMT.N) fell 4.6% after missing quarterly profits and citing higher costs due to tariffs, despite increased sales and profit guidance for the fiscal year. [[1]] While tech stocks have moderated their earlier declines,Nvidia (NVDA.O), Meta (META.O), amazon (AMZN.O), and Advanced Micro Devices (AMD.O) remain lower. [[1]]
According to LPL Financial strategist Adam Turnquist, concerns about Powell’s speech are weighing on risk appetite. [[1]] The probability of a rate cut in September has decreased to 40% from 90% a week ago. [[1]]
