The S&P 500 fell for a fifth day, as Wall Street trimmed bets on a September rate cut ahead of Federal Reserve Chairman Jerome Powell\u2019s speech at Jackson Hole on Friday.<\/p>\n
The market benchmark dropped 0.4%; the S&P marked its longest losing streak since it fell the five days ending Jan. 2. The Nasdaq Composite fell 0.3%, which brought its losing streak to three days, the longest it has fallen since the four days ending April 21.<\/p>\n
The Dow Jones Industrial Average fell 153 points, or 0.3%. The blue-chip index had gone five sessions in a row without a move of more than 0.1%, but the tech stock selloff expanded to the broader market during Thursday\u2019s session.<\/p>\n
Walmart\u2019s earnings report disappointed Wall Street, and executives pointed to tariffs raising prices as it replaces inventory from before the levies rolled out. S&P Global\u2019s surveys of the services and manufacturing sectors also pointed to tariffs beginning their flow to consumers.<\/p>\n
Cleveland Fed President Beth Hammack told Yahoo! Finance, based on the data currently out, that she didn\u2019t see a case for a September cut. Odds of such a move dropped to 73.6% from 82.4% on Wednesday and 92.1% a week ago, according to the CME FedWatch Tool.<\/p>\n
All that sets the stage for Powell\u2019s speech tomorrow at 10 a.m. ET. Whether Powell rolls out the red carpet for a September cut or maintains his \u201cdata-dependent\u201d approach will likely determine where markets go next.<\/p>\n","protected":false},"excerpt":{"rendered":"The S&P 500 fell for a fifth day, as Wall Street trimmed bets on a September rate cut…\n","protected":false},"author":2,"featured_media":1706,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[175],"tags":[79,18,19,17,188],"class_list":{"0":"post-14602","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-business","9":"tag-eire","10":"tag-ie","11":"tag-ireland","12":"tag-markets"},"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/14602","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=14602"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/14602\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/1706"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=14602"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=14602"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=14602"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}