S&P 500 INDEX (SPX) Live: Stocks Stuck in Doldrums Until Economy Does This
Live Updates Live Coverage Updates appear automatically as they are published. Economists Expect Rates to Hold Steady 10:30 am by Gerelyn Terzo Wells Fargo economists have published a forecast on what to expect from this week’s FOMC meeting. They pointed to “soft” data that is sending a warning signal on the economy while hard data […] The post S&P 500 INDEX (SPX) Live: Stocks Stuck in Doldrums Until Economy Does This appeared first on 24/7 Wall St..
Live Updates
Economists Expect Rates to Hold Steady
Wells Fargo economists have published a forecast on what to expect from this week’s FOMC meeting. They pointed to “soft” data that is sending a warning signal on the economy while hard data from the tariff impacts is inconclusive. Therefore, the economists expect the Fed to hold interest rates steady, writing, “We expect the FOMC will leave its target range for the federal funds rate unchanged at 4.25%-4.50% at this week’s meeting.”
This article will be updated throughout the day, so check back often for more daily updates.
The markets are stuck in the doldrums this week as they await the Federal Reserve’s decision on interest rates and greater clarity on international trade deals. The SPX index is off 1.1% amid a broader market decline in which the Nasdaq Composite is falling 1% and the Dow Jones Industrial Average is spiraling by over 300 points. The markets are likely to continue on this one step forward, two steps back pace until the economy signals that it is in the clear from tariffs and the Fed starts lowering interest rates.
Hedge fund tycoon Paul Tudor Jones warned that the stock market had not yet reached a bottom and will continue to sell-off even if the White House lowers tariffs on China imports to 50%, according to CNBC.
Ford (NYSE: F) reported its Q1 results, revealing the impact of the tariffs on the hard-hit auto sector. Ford is bracing for a $1.5 billion tariff hit in 2025, in response to which the company is holding off on performance guidance for the year.
Here’s a look at where things stand as of morning trading:
Dow Jones Industrial Average: Down 256.94 (-0.62%)
Nasdaq Composite: Down 181.85 (-1.02%)
S&P 500: Down 43.83 (-0.78%)
Market Movers
Palantir Technologies (Nasdaq: PLTR) as erased $40 billion in market capitalization today amid a 14.4% precipitous drop in the stock price. The company reported Q1 results that surpassed Wall Street estimates but showed weakness in international sales. CEO Alex Karp has changed his mind about selling shares amid what has been a white-hot stock price. On the AI front, OpenAI has canceled plans to transition to a for-profit entity. Elon Musk’s xAI has partnered with Palantir and investment firm TWG to bring AI more prominently into the financial services realm.
Toy company Mattel (NYSE: MAT) has reportedly warned that toy manufacturing isn’t likely to rush to the USA but price increases will reach the consumer. The stock is up fractionally today.
Lemonade (NYSE: LMND), an AI-driven life insurance provider, is up 4.2% today after beating quarterly revenue estimates despite operating at a loss.
Constellation Energy (Nasdaq: CEG) is rising 6.6% on the day, bucking the downward trend on the heels of its Q1 results.
The post S&P 500 INDEX (SPX) Live: Stocks Stuck in Doldrums Until Economy Does This appeared first on 24/7 Wall St..
