{"id":1160,"date":"2022-10-27T21:13:06","date_gmt":"2022-10-27T21:13:06","guid":{"rendered":"https:\/\/tradersontrend.com\/?p=1160"},"modified":"2022-10-27T21:13:06","modified_gmt":"2022-10-27T21:13:06","slug":"sp-500-and-dow-rally-on-rate-hike-delay","status":"publish","type":"post","link":"https:\/\/tradersontrend.com\/h\/2022\/10\/27\/sp-500-and-dow-rally-on-rate-hike-delay\/","title":{"rendered":"S&#038;P 500 and Dow Rally on Rate Hike Delay"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"1160\" class=\"elementor elementor-1160\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7dc4d5ab elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7dc4d5ab\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-360ab9c5\" data-id=\"360ab9c5\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-13cc3886 elementor-widget elementor-widget-text-editor\" data-id=\"13cc3886\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.21.0 - 26-05-2024 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p>The S&amp;P 500 and Dow rose Wednesday afternoon on renewed expectations of a delay in interest rate hikes, while the Nasdaq remained under pressure from Microsoft and Alphabet&#8217;s disappointing earnings.<\/p><p><span style=\"font-family: inherit;\">The 10-year Treasury yield plummeted to a one-week low after the Bank of Canada&#8217;s smaller-than-expected rate hike.<\/span><\/p><p><span style=\"font-family: inherit;\">Economic data and company outcomes imply that rising borrowing costs are hurting economic growth.<\/span><\/p><p><em>&#8220;The Fed story has been in the market since Friday,&#8221;<\/em> said Art Hogan, Chief Market Strategist at B. Riley Wealth in New York.<\/p><p>Wall Street&#8217;s main indexes have gained three straight days on anticipation of a less-hawkish Fed, even as the central bank is likely to deliver its fourth 75 basis-point boosts on Nov. 1-2.<\/p><p>According to CME&#8217;s FedWatch tool, bets for a 50 basis point hike in December rose to 55.3% from 47.4% a day before, while bets for a 75 basis point hike fell to 38.6% from 50.8%.<\/p><p>A dip in new house sales in September contributed to recent figures showing declining corporate activity and waning consumer confidence.<\/p><p>Microsoft Corp (<a href=\"https:\/\/www.google.com\/finance\/quote\/MSFT:NASDAQ?sa=X&amp;ved=2ahUKEwjo6ay535_8AhWh7jgGHZR_Bl8Q3ecFegQIHxAa\">MSFT.O<\/a>) dragged down the Nasdaq index (<a href=\"https:\/\/www.google.com\/finance\/quote\/.IXIC:INDEXNASDAQ?sa=X&amp;ved=2ahUKEwiimK3C35_8AhXnzTgGHaEIACwQ3ecFegQIJxAY\">.IXIC<\/a>) with its lowest sales growth in five years and below-estimated second-quarter revenue.<\/p><p>Alphabet Inc (GOOGL.O) slumped 6.5% after announcing disappointing ad sales and warning of ad expenditure slowdown.<\/p><p><em>&#8220;Large IT businesses&#8217; disappointing earnings are company-specific, not market-specific. Yields pulling back for a few days seems to be a bigger tailwind than Microsoft and Alphabet misses&#8221; <\/em>said Hogan.<\/p><p>Meta Platforms (META.O) and Pinterest (<a href=\"https:\/\/www.reuters.com\/markets\/companies\/PINS.N\/\">PINS.N<\/a>) lost 2.6% and 1.4%, respectively.<\/p><p>The Dow Jones Industrial Average (.DJI) was up 289.55 points, or 0.91%, at 32,126.29, the S&amp;P 500 (.SPX) was up 19.78 points, or 0.51%, at 3,878.89, and the Nasdaq Composite (.IXIC) was down 27.42 points, or 0.24%, at 11,171.70.<\/p><p>Visa Inc (V.N) rose 5.2% after beating quarterly profit projections on robust travel demand. <br \/><br \/>NYSE advancers outweighed decliners 4.87-to-1 and Nasdaq 3.43-to-1.<\/p><p><a href=\"https:\/\/www.google.com\/finance\/quote\/.INX:INDEXSP?sa=X&amp;ved=2ahUKEwiI4fXruf76AhWWBd4KHVfIBBkQ3ecFegQINhAY\">The S&amp;P index<\/a> had 23 new 52-week highs and two new lows, while the Nasdaq had 73 and 41.<\/p><p><em>For More Stocks And Investment News, Click <a href=\"https:\/\/tradersontrend.com\/\">Here<\/a>.<\/em><\/p><p>\u00a0<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>The S&amp;P 500 and Dow rose Wednesday afternoon on renewed expectations of a delay in interest rate hikes, while the Nasdaq remained under pressure from Microsoft and Alphabet&#8217;s disappointing earnings. The 10-year Treasury yield plummeted to a one-week low after the Bank of Canada&#8217;s smaller-than-expected rate hike. Economic data and company outcomes imply that rising&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[517,573],"class_list":["post-1160","post","type-post","status-publish","format-standard","hentry","category-newsletter","tag-sp-500-and-dow","tag-stocks-and-investment"],"_links":{"self":[{"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/posts\/1160","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/comments?post=1160"}],"version-history":[{"count":0,"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/posts\/1160\/revisions"}],"wp:attachment":[{"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/media?parent=1160"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/categories?post=1160"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tradersontrend.com\/h\/wp-json\/wp\/v2\/tags?post=1160"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}