October 3, 2022

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The S&P 500 rose with stocks closing mixed after the Fed’s signal path for a rate hike

The S&P 500 rose with stocks closing mixed after the Fed's signal path for a rate hike

US stocks He finished the session mixed after Fed officials noted Overheating inflation and a tight labor market are likely to raise interest rates faster than expected.

The Dow Jones Industrial Average is down more than 57 points or 0.16%, the Nasdaq Composite is down 0.11%, while the S&P 500 pushed small gains. All three major averages closed off session lows after the details of the Federal Reserve’s latest meeting were announced. Previously, Retail It jumped 3.8% in January, month over month, after unexpectedly dropping 2.5% in December based on the revision. Excluding the auto component, spending increased 3.3% in January, a rebound from December’s 2.8% decline.

ribbon protection the last change % changes
Me: DJI Dow Jones averages 34934.27 -54.57 -0.16%
SP500 Standard & Poor’s 500 4475.01 +3.94 + 0.09%
I: COMP Nasdaq Composite Index 14124.094614 -15.66 -0.11%

Investors also continued to monitor tensions between Russia and Ukraine after that NATO reported that Russia It has not eased its military presence around Ukraine.

Fist swells in mountain states, midwest as consumer prices rise

Oil remained at $93 a barrel, giving a boost to ExxonMobil and Chevron.

ribbon protection the last change % changes
USO United States Petroleum Fund LP 63.54 -0.74 -1.15%
XOM EXXON MOBIL CORP. 78.37 +0.39 + 0.50%
CVX Chevron Corporation. 134.36 +0.10 + 0.08%

in profits, Airbnb shares It rose after the company reported a rebound in business, with most bookings arriving at the travel rental company for four days or more.

ribbon protection the last change % changes
ABNB Airbnb inc. 186.64 +6.57 + 3.65%

Robolox shares fell after reporting a loss of 25 cents, missing the 13 cents of profit Wall Street had been expecting. Revenue of $770 million was also below Wall Street estimates.

ribbon protection the last change % changes
RBLX Roblox Corporation. 53.94 -19.36 -26.41%

Shopify slumped after revealing revenue growth will slow in 2022 after jumping 57% in 2021 as the COVID shutdown propelled business.

ribbon protection the last change % changes
a store SHOPIFY INC. 742.95 -146.54 -16.47%

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Kraft Heinz saw its shares rise after it posted a better-than-expected quarter and said revenue this fiscal year will come in at $6 billion, above Wall Street’s estimate of $5.8 billion.

ribbon protection the last change % changes
KHC Kraft Heinz Company 36.62 +1.94 + 5.59%

Post-bell earnings include reports from Cisco Systems, a Dow member, insurer AIG, chip maker Nvidia and semiconductor equipment maker Applied Materials.

ribbon protection the last change % changes
CSCO cisco systems company 54.25 -0.02 -0.04%
AIG American International Group Limited 60.29 -0.08 -0.13%
NVDA Nvidia Corp. 265.11 +0.16 + 0.06%
AMAT Applied Materials Company 140.96 +1.12 + 0.80%

In other news, shares of Trump SPAC Digital Acquisition surged as the platform prepared to take off.

ribbon protection the last change % changes
DWAC Global Digital Possession Corporation. 85.16 +4.01 + 4.94%

Wholesale prices soaring again – further evidence of red-hot inflation

Bitcoin is trading around $44,000.

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Ken Martin and The Associated Press of FOX Business contributed to this report.

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