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<ul class="summary-list"><li>Stocks wavered and closed mixed on Tuesday. </li><li>Doubts about the pace of rate cuts shook shook stocks and bonds earlier this week. </li></ul>US indexes ended mixed on Tuesday as investors adjusted their outlooks for rate cuts for the rest of the year. The <a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500">S&amp;P 500</a> and the <a target="_blank" href="https://markets.businessinsider.com/index/dow_jones">Dow Jones Industrial Average</a> dipped slightly, while the <a target="_blank" href="https://markets.businessinsider.com/index/nasdaq_100">Nasdaq</a> edged up. The benchmark S&amp;P 500 added to losses from Monday's session, pulling back further from records notched last week as investors adjusted their outlooks for rate cuts. Commentary from several Fed officials outlining expectations for a modest rate-cutting cycle forced investors to recalibrate expectations of swift, steep rate cuts. The bond market sold off Monday in response, and the 10-year Treasury yield jumped 11 basis points to hover at 4.2% on Tuesday. On Tuesday. That marks the key bond yield's highest level in three-months. Still, investors expect more rate cuts at coming meetings, and according to the <a target="_blank" href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html?redirect=/trading/interest-rates/countdown-to-fomc.html">CME FedWatch Tool</a>, the odds of a quarter-point interest rate cut next month stand at 89.6%. Meanwhile, earnings season has been mostly positive so far. Nearly one-fifth of S&amp;P 500 companies have reported third-quarter results, and about 80% have beaten profit estimates by 5%, Bank of America said.<a target="_blank" href="https://markets.businessinsider.com/stocks/gm-stock">General Motors</a> rose over 10% Tuesday after<a target="_blank" href="https://www.businessinsider.com/gm-stock-earnings-crushing-it-suvs-trucks-evs-2024-10"> topping forecasts</a> on Tuesday. Tesla and Boeing are scheduled to report on Wednesday, followed by UPS on Thursday.Here's where US indexes stood at the 4:00 p.m. closing bell on Tuesday:<ul><li><a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 5,851.20, down 0.05% </li><li><a target="_blank" href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 42,924.89, down 0.02% (-6.72 points)</li><li><a target="_blank" href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq composite</a>: 18,573.13, up 0.18%</li></ul>Here's what else happened today:<ul><li><a target="_blank" href="https://www.businessinsider.com/polymarket-whale-trump-vs-harris-betting-odds-polls-election-2024-10">The Polymarket 'whale' is placing as many as 71 bets a minute in favor of Trump.</a></li><li><a target="_blank" href="https://www.businessinsider.com/russia-ukraine-war-moscow-assets-frozen-uk-loan-west-sanctions-2024-10">Russia's frozen assets are being used by the UK for a $3 billion loan to Ukraine.</a></li><li><a target="_blank" href="https://markets.businessinsider.com/news/commodities/paul-tudor-jones-gold-crypto-bitcoin-election-inflation-debt-crisis-2024-10?_gl=1*1nv0ey9*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTcyOTYxNDUwNy43NTUuMS4xNzI5NjI1MTk5LjYwLjAuMA..">Legendary investor Paul Tudor Jones said he's holding gold and bitcoin to hedge against post-election inflation risk</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/co-living-office-conversion-housing-shortage-dormitory-apartment-gensler-pew-2024-10">'Flexible co-living' could help bring down office-conversion costs and add housing supply, new study says.</a></li><li><a target="_blank" href="https://markets.businessinsider.com/news/stocks/tesla-q3-earnings-preview-wall-street-auto-margins-robotaxi-2024-10?_gl=1*n4gz7a*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTcyOTYxNDUwNy43NTUuMS4xNzI5NjI3MDAyLjYwLjAuMA..">What Wall Street is watching for in Tesla's upcoming earnings report.</a></li></ul>In commodities, bonds, and crypto:<ul><li><a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">West Texas Intermediate</a> crude oil was up 2.38% to $72.24 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Brent crude</a>, the international benchmark, jumped 2.23% to $75.94 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Gold</a> was higher by 0.80% to $2,760.9 an ounce.</li><li>The 10-year Treasury yield increased one basis point to 4.2%.</li><li><a target="_blank" href="https://markets.businessinsider.com/currencies/btc-usd?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Bitcoin</a> shed 0.17% to $67,533.29.</li></ul>

Stock market today: Indexes end mixed as traders assess rate path and brace for more earnings

<ul class="summary-list"><li><keyword id="23254035" type="General" weightage="20" keywordseo="home-improvement-retailers" source="keywords">Home improvement retailers</keyword> are among the first to see a lift from the Fed's rate cut.</li><li>Share prices for <keyword id="20320193" type="General" weightage="20" keywordseo="Home-Depot" source="keywords" meta.keywordsubtype="org" meta.entityname="Home Depot" meta.hostid="261" meta.entityid="Home Depot">Home Depot</keyword> and <keyword id="23254034" type="General" weightage="20" keywordseo="Lowes" source="keywords" meta.keywordsubtype="org" meta.entityname="Lowe's" meta.hostid="261" meta.entityid="Lowe's">Lowe's</keyword> are up, and <a target="_blank" href="https://www.businessinsider.com/fed-interest-rates-cut-jerome-powell-labor-market-mortgage-pantheon-2024-9">spending on projects is expected to follow</a>.</li></ul>The US Federal Reserve's decision Wednesday to <a target="_blank" class="" href="https://www.businessinsider.com/fed-cuts-interest-rates-how-much-september-fomc-powell-inflation-2024-9">cut rates by half a percentage point</a> has created a flurry of immediate reactions, but the real effects of the policy are likely to take several months to bear out. Still, some areas of the economy are already seeing a lift in response to the news — and the fact that the Fed went with the larger of the two most likely options under consideration. <a target="_blank" href="https://www.businessinsider.com/comparing-lowes-vs-home-depot-2023-12">Home improvement retailers,</a> in particular, are among the companies who were primed to come out of the gate strong with a rate cut, and, true to form, shares for Home Depot and Lowe's were up as of Thursday's market close. "Home-related companies should soon see the beginnings of fundamental recovery exiting this year," Mizuho analyst David Bellinger told Business Insider. "Aside from any initial noise in the market, Home Depot and Lowe's should keep grinding higher as all this comes together." And while a rising <keyword id="19998639" type="General" weightage="20" keywordseo="stock-price" source="keywords">stock price</keyword> carries its own benefits for a company, the uptick is a signal of a much more important change still to come: sales. Executives for both Home Depot and Lowe's have characterized their businesses as being constrained by low housing turnover and high borrowing costs, both of which are results of the Fed's tight interest rate policy. Home Depot CFO Richard McPhail described his company's core customer as having "<a target="_blank" href="https://www.businessinsider.com/home-depot-earnings-americans-in-deferral-mindset-consumer-spending-2024-8">a deferral mindset</a>" in spite of being in a generally healthy financial position. In short, most <a target="_blank" href="https://www.businessinsider.com/americans-doing-less-diy-worrying-sign-economy-lowes-earnings-2024-8">big-ticket spending on home improvement</a> comes from one of two places: people buying and selling homes and homeowners renovating existing homes with borrowed money. Unless they have to fix something urgently, a lot of folks have decided they're better off waiting to upgrade. Fed Chairman Jerome Powell talked about the impact on the <keyword id="20759748" type="General" weightage="20" keywordseo="housing-market" source="keywords">housing market</keyword> in his remarks following Wednesday's announcement. "The housing market is in part frozen because of lock-in with low rates. People don't want to sell their home," he said. "As rates come down, people will start to move more, and that's probably beginning to happen already." What's more, Powell signaled in his speech that further cuts are likely if the data support them, which can encourage some of those sitting on the sidelines to go ahead with a new mortgage or credit line with the expectation that they can simply <a target="_blank" href="https://www.businessinsider.com/personal-finance/personal-loans/how-to-refinance-personal-loan">refinance</a> in a few months when rates come down further. Additionally, Home Depot and Lowe's have taken great care to manage investor expectations through the <a target="_blank" href="https://www.businessinsider.com/lowes-dicks-macys-sound-alarm-us-shoppers-spending-2023-8">slumping sales and slimmer profits</a> over the past year. In particular, both companies <a target="_blank" class="c-link" href="https://www.businessinsider.com/home-depot-1-billion-wage-boost-improved-worker-safety-satisfaction-2023-5">continued to invest in their stores</a> with the expectation that pent-up demand would eventually be unlocked. (Truist Securities analyst Scot Ciccarelli has referred several times to a "coiled spring" for the retailers.) Max Rakhlenko, a TD Securities analyst, said in a note on Wednesday that Lowe's management was expecting a "phased recovery" in which homeowners start with smaller projects before getting more comfortable with larger ones that require tapping into their house's equity. "We're aggressively working in this downturn," Lowe's CEO Marvin Ellison said during his earnings call last month, adding, "Whenever the macro inflection occurs, we just want to be ready to take advantage of it." It appears Ellison may not have to wait much longer. Correction: September 20, 2024 — An earlier version of this story misstated the day a TD Securities analyst sent out his note on Lowe's. It was Wednesday, not Thursday.

Home Depot and Lowe's are already seeing the first of many likely benefits from the Fed's rate cut

<ul class="summary-list"><li>Investors are de-risking portfolios amid recession fears, driving a stock market sell-off.</li><li>Weak economic data, including a surge in unemployment, has fueled recession concerns.</li></ul>The stock market's recession playbook is in full swing as suddenly-panicked investors look to aggressively de-risk their portfolios amid <a target="_blank" class="" href="https://www.businessinsider.com/stock-market-crash-recession-indicators-jobs-report-unemploymnet-rate-sp500-2024-8">fears of a downturn</a>.Major equity indexes have been <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-selloff-today-jobs-report-recession-unemployment-tech-earnings-2024-8">in free-fall</a> for three days running, selling off in response to a slew of weak economic data. Investors are questioning if the Federal Reserve waited too long to cut interest rates, and whether it's already <a target="_blank" class="" href="https://www.businessinsider.com/jobs-unemployment-interest-rates-economy-recession-soft-landing-2024-8">too late to fend off recession</a>. As indexes sit deeply in the red, with the Nasdaq 100 in correction territory, cries for an <a target="_blank" class="" href="https://www.businessinsider.com/emergency-interest-rate-cut-likelihood-recession-outlook-stock-market-crash-2024-8">emergency cut</a> are gathering steam.But that doesn't mean every area of the market is getting hit. As the S&amp;P 500 has fallen 5% since last Thursday, Aug. 1, three sectors in the benchmark index have actually stayed in the green: real estate, utilities, and consumer staples. Viewed as safety plays during market turmoil, they've outperformed amid investor nerves.The same goes for ultra-safe bonds. US Treasury yields sit at yearly lows as traders play defense and flee into government debt.Detailed below are four outperforming areas of the market that make it clear that investors are employing the recession playbook:<h2 id="39537f20-e75e-4a8c-ba18-8561237c0889">1. Defensive stocks</h2>Investors are sowing cash into <a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-market-investing-advice-inflation-april-cpi-fed-morgan-stanley-2024-5">defensive stock sectors</a>, like consumer staples and utilities, which tend to outperform during rough patches in the economy.Since Thursday, the consumer staples and utility indexes within the S&amp;P 500 are up 0.7% and 0.3%, respectively. Grouped with real estate, those are the only areas of the benchmark index that have gained over the last three trading days, with all other areas of the market posting losses that trail up to 10%, according to Bloomberg data."As the rate of economic growth in the US is poised to slow in the second half of 2024 and into 2025, investors have looked to the stability of defensive stocks to position their portfolios to weather any potential downturn," David Sekara, the chief US market strategist at Morningstar said in a recent <a target="_blank" href="https://affiliate.insider.com?h=9f26dd18f497970ac3d70027dd27d4a4cf0cb07b088e665bbb379fa484539e3e&amp;postID=66b0ec8de3c9582388c70a40&amp;postSlug=stock-market-investing-strategy-for-recession-tech-selloff-economy-inflation-2024-8&amp;site=bi&amp;u=https%3A%2F%2Fwww.morningstar.com%2Fstocks%2Fbest-defensive-stocks-buy%3Futm_source%3Deloqua%26utm_medium%3Demail%26utm_campaign%3Dnewsletter_morningdigest%26utm_content%3D56443">note</a>.<h2 id="8b7e5c46-1617-4fb2-a87f-e941b47c2aa9">2. Dividend-paying stocks</h2>Stocks that pay out dividends to shareholders, another common recession play, are also growing in popularity.Utility stocks, which often pay dividends, have outperformed the overall S&amp;P 500 over the last few trading days, while the iShares Global Utilities ETF is up 12.7% from levels at the start of the year.<h2 id="3c394e17-9f13-431d-afa7-8be0c06bd9fd">3. Government bonds</h2>US Treasurys saw a sharp rally on Monday as traders anticipated <a target="_blank" class="" href="https://www.businessinsider.com/fed-rate-cuts-recession-outlook-economy-job-market-interest-rates-2024-8">steep rate cuts</a> — a policy move that is typically indicative of the Fed responding to recession risks.Treasury yields, which fall as government bond prices rise, hit their lowest level in a year on Monday. The yield on the 10-year US Treasury fell as much as 10 basis points in early-morning trading, while the yield on the 2-year US Treasury plunged as much as 16 basis points."Bonds are seeing safe-haven demand," David Rosenberg, the chief economist of Rosenberg Research, said in a note on Monday. "For the macro bulls out there, I have some news for you: the bond market is telling you something not-so-good is about to happen," he later added.<h2 id="381e3f14-7512-4d21-a629-924a66baf0a2">4. Selling high-momentum growth stocks</h2>Investors, meanwhile, are shedding high-flying growth stocks — specifically, <a target="_blank" class="" href="https://www.businessinsider.com/stock-market-outlook-prediction-selloff-small-cap-rally-investing-strategy-2024-7">tech stocks</a> — from their portfolios. The Nasdaq deepened its descent into correction territory this week, with the tech-heavy index losing 12% over the last 30 days.The S&amp;P 500's information technology index, meanwhile, is down 9% over the last three days."The tech bubble, as was the case in 2000 (and it wasn't all about dot-coms back then, but the entire sector getting swept away by the Internet as has been the case now with the AI craze), is in the process of popping," Rosenberg wrote. "As we saw with routers, cable, and fiber optics in the late 1990s, anxi­ety over AI over invest­ment is now beginning to build, and the comparisons are stark."Still, some forecasters say the outlook for a recession remains uncertain. While the slowdown in the job market looks concerning, weakness in the latest jobs report was likely overstated due to <a target="_blank" class="" href="https://www.businessinsider.com/hurricane-beryl-caribbean-storm-weather-jamaica-record-category-2024-7">recent weather events</a>, which temporarily displaced around 416,000 workers, Ned Davis Research said in a note."Next's year's pricing makes sense if the US economy falls into recession and/or inflation tumbles below the Fed's 2% target," analysts said of the market's rate cut expectations. "Although we may get there, that is not our call at this time."

The stock market's recession playbook is in full effect

<ul class="summary-list"><li>Indexes edged lower Thursday as investors assessed jobless claims and geopolitical tensions.</li><li>Jobless claims climbed to 225,000, surpassing forecasts of around 221,000.</li></ul>US stocks inched lower on Thursday, fueled by an uptick in jobless claims ahead of a key jobs report and continued tensions in the Middle East. Weekly jobless claims rose by 6,000 to 225,000, according to Labor Department data released Thursday.That surpassed forecasts of around 221,000, but weekly claims remain low, with the four-week moving average falling to its lowest since June.Investors are also focused on simmering geopolitical conflict in the Middle East, which triggered a sell-off Tuesday and early on Wednesday following a missile attack by Iran against Israel. Oil prices have spiked this week as investors fear disruption to supply if Israel retaliates by striking Iran's oil facilities. On Friday, investors will be closely watching the September jobs report, which is expected to show the unemployment rate staying flat at 4.2%. Forecasters see an increase of 150,000 jobs in September, ahead of August's figure of 142,000. The data will be a key indicator for the Federal Reserve's next rate cut decision after its jumbo 50-basis-point-rate cut last month. Markets are currently pricing in a 65% chance of a smaller, 25-basis-point cut in November, according to the CME FedWatch tool.Analysts say the report will likely have a big influence on both markets and the Fed in the coming weeks."We think a soft employment report is likely to generate a larger market response vs a strong labor report," Bank of America analysts said in a Wednesday report."We think the market is likely to focus most on labor data in the weeks ahead but must acknowledge inflation data could also support another 50bp cut in Nov," they added.Here's where US indexes stood shortly after the 930 a.m. opening bell on Thursday:<ul><li><a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 5,694.76, down 0.26% </li><li><a target="_blank" href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 42,048.11, down 0.35% (-148.41 points)</li><li><a target="_blank" href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq composite</a>: 17,877.91, down 0.29%</li></ul>Here's what else is going on today:<ul><li>Two sectors of the stock market are <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-election-impact-trump-win-election-financials-energy-rbc-2024-10">poised to benefit most</a> if Trump wins in November, according to RBC. </li><li>OpenAI will <a target="_blank" class="" href="https://www.businessinsider.com/openai-chatgpt-stock-sale-artificial-intelligence-fundraising-valuation-sam-altman-2024-10">let employees sell some stock</a> after its monster fundraising round.</li><li>Stocks face a <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stocks-market-outlook-pullback-manufacturing-pmi-lei-recession-consumers-labor-2024-10?_gl=1*7dongh*_ga*MTY3OTgyNjg0MS4xNzIxMDE2MDM2*_ga_E21CV80ZCZ*MTcyNzk1OTg4Mi4yMTguMS4xNzI3OTYwNjc3LjQyLjAuMA..">10% drop</a> with key economic data mired in recession territory, Verdence's CIO says.</li></ul>In commodities, bonds, and crypto:<ul><li>Oil futures rose. <a target="_blank" class="" href="https://markets.businessinsider.com/commodities/oil-price?type=wti">WTI crude</a> rose 2.5% to $71.88 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets">Brent crude</a>, the international benchmark, climbed 2.3% to $75.62 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price?utm_medium=ingest&amp;utm_source=markets">Gold</a> was nearly flat at $2,668 an ounce. </li><li>The 10-year Treasury yield rose two basis points to 3.813%.</li><li><a target="_blank" class="" href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> inched lower to $60,438. </li></ul>

Stock markets today: Indexes slip as jobless claims rise ahead of highly anticipated jobs report

<ul class="summary-list"><li>The Federal Reserve is catching some heat for the historic stock market plunge. </li><li>Experts argue the Fed's decision to leave rates unchanged at its last meeting contributed to the chaos.</li></ul>The Federal Reserve is to blame for <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/nasdaq-crash-tech-recession-global-stock-market-rout-accelerates-japan-2024-8">the historic stock market plunge since last week,</a> according to a growing chorus of market experts.The <a target="_blank" class="" href="https://markets.businessinsider.com/index/s&amp;p_500">S&amp;P 500</a> dropped as much as 7% since the Federal Reserve left rates unchanged at the current range of 5.25%-5.50% at its policy meeting last week. The <a target="_blank" class="" href="https://markets.businessinsider.com/index/nasdaq_100">Nasdaq 100</a> was down as much as 10% over the same time period.Wharton professor <a target="_blank" class="" href="https://www.cnbc.com/video/2024/08/05/the-fed-needs-to-make-an-emergency-cut-says-whartons-jeremy-siegel.html">Jeremy Siegel told CNBC on Monday</a> that the Fed is way behind the curve, arguing that they should implement 150 basis points over the next two months."I'm calling for a 75 basis point emergency cut in the Fed funds rate, with another 75 basis point cut indicated for next month at the September meeting, and that's minimum," Siegel said.Siegel believes the Federal funds rate should be 3.50%-4%.Siegel <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/jeremy-siegel-fed-making-same-mistake-interest-rates-inflation-recession-2022-9">has long criticized Fed Chairman Jerome Powell for acting too late</a> in raising interest rates during the inflation boom in 2021 and 2022, and now he thinks Powell is making exact mistake by waiting too long to cut interest rates."Since when has the Fed known anything about the economy?" Siegel asked. "Look at what happened three years ago. The market knows so much better than the Fed, so they've got to respond."Siegel added: "If they are going to be as slow on the way down as they were on the way up, which by the way was the first policy error in 50 years, then we're not in for a good time with this economy."When asked if any of the stock market decline was driven by the <a target="_blank" href="https://www.businessinsider.com/kamala-harris-trump-georgia-battleground-state-suburbs-2024-8">rising chances of Kamala Harris winning the November Presidential election,</a> Siegel reiterated that the issue was firmly with the Fed rather than the coming presidential election or geopolitical tensions, as some commentators have suggested. "I don't think the race, I don't think Iran or Japan is the source of this slowdown. I think it's in Washington DC at the Federal Reserve building, that's the source," Siegel said.JPMorgan strategist Mislav Matejka said in a Monday note that the lack of Fed rate cuts in the first half of the year will weigh on economic growth in the second half, and that any coming interest rate cuts from the Fed likely won't be enough."The Fed will start easing, but more in a reactive way and as a response to weakening growth, i.e. it is likely behind the curve — this might not be enough to drive a rebound," Matejka said.Yet, while the Fed may be "behind the curve," that could be by design.That's because Powell wants to convince the market that even in the face of a potential recession, he is still determined to tame inflation, just like former Fed chairman Paul Volcker did in the 1980s."Powell has had it much easier than Volcker so far, but he still needs to deliver the same message. That is happening right now. Seeming to be behind the curve also helps Powell and the FOMC push back against the idea that its eventual rate cuts will be politically motivated," DataTrek co-founder Nicholas Colas said in a Monday note.Regardless of what the Fed's motivation might be with waiting until September to cut interest rates, the market is taking away a pretty clear message."There is growing sentiment is that the Fed has waited too long to cut interest rates and is now behind the curve," Comerica Wealth Management CIO John Lynch said.

Why the Fed is being blamed for the historic stock-market plunge

<ul class="summary-list"><li>Major stock indexes were down sharply for a second day on Thursday.</li><li>A mega-cap retreat expanded into a broader rout, and the S&amp;P 500 fell over 1%.</li></ul>US indexes declined sharply for a second session this week, as the plunge in leading tech stocks broadened out to the rest of the market.Artificial intelligence names in mega-cap tech such as <a target="_blank" href="https://markets.businessinsider.com/stocks/googl-stock">Google</a> and <a target="_blank" href="https://markets.businessinsider.com/stocks/amzn-stock">Amazon</a> dropped over 1% through Thursday, pulling the tech-heavy Nasdaq down as low as 1.13%.Index losses were even steeper on Wednesday, kicked off by a <a target="_blank" href="https://markets.businessinsider.com/news/stocks/nvidia-stock-price-tighter-china-trade-restrictions-tsm-asml-nvda-2024-7?utm_medium=ingest&amp;utm_source=markets">semiconductor rout</a>. Chipmakers such as <a target="_blank" href="https://markets.businessinsider.com/stocks/nvda-stock">Nvidia</a> plummeted in response to possible restrictions on sales to China, and industry names kept sliding through Thursday.By the day's end, nearly every major S&amp;P 500 group dropped, Bloomberg said, pulling the index below 1% before it pared losses to close 0.7% lower.The first leg of the tech pullback could be justified as a rotation into small- and mid-cap stocks, commentators said, as the sector rallies on the prospect of lower interest rates this year.But even small-cap names slumped on Thursday, and the Russell 2000 dropped 2.19%.Meanwhile, initial jobless claims rose to 243,000 through the week ending July 13, above estimates for 229,000. The cooling market only raises bets that the Federal Reserve can cut rates this year.Here's where US indexes stood at the 4:00 p.m. closing bell on Thursday:<ul><li><a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 5,544.59, down 0.78% </li><li><a target="_blank" href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 40,665.02, down 1.29% (-533.0 6 points)</li><li><a target="_blank" href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq composite</a>: 17,871.22, down 0.7%</li></ul>Here's what else is going on today:<ul><li><a target="_blank" href="https://markets.businessinsider.com/news/stocks/nvidia-stock-outlook-ai-profits-silence-critics-q2-earnings-call-2024-7">AI critics are about to be silenced by Nvidia's upcoming earnings call reveal</a>, Goldman Sachs says.</li><li><a target="_blank" href="https://hub.marfeel.com/compass/article/750532847?article=750532847&amp;limit=20&amp;model=posts&amp;plotBy=medium&amp;realtimeType=compass">Jamie Dimon thinks the Fed should wait on cutting interest rates as inflation pressures stick around.</a></li><li><a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-rare-bullish-signal-flashed-signals-more-upside-2024-7">An indicator with a 100% success rate is flashing more stock upside ahead</a>.</li><li><a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-market-crash-dot-com-bubble-sp500-tech-overvalued-socgen-2024-7">Overstretched valuations are a 'timebomb' that will end the market rally</a>, SocGen says.</li></ul>In commodities, bonds, and crypto:<ul><li><a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">West Texas Intermediate</a> crude oil shed 0.64% to $82.32 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Brent crude</a>, the international benchmark, fell 0.41% to $82.02 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Gold</a> shed 0.38% to $2,463.51 per ounce.</li><li>The 10-year Treasury yield gained five basis points at 4.197%.</li><li><a target="_blank" href="https://markets.businessinsider.com/currencies/btc-usd?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Bitcoin</a> slipped 0.65% to $63,677.</li></ul>

Stock market today: Dow falls 533 points as tech rout spreads to the broader market

<ul class="summary-list"><li>US stocks jumped to record highs ahead of key economic data releases this week.</li><li>Investors are awaiting the June CPI and PPI reports to gauge inflation trends and the Fed's response.</li></ul>US stocks jumped to record highs on Monday ahead of key economic data scheduled for this week.Investors will be keenly focused on the June consumer price index report on Thursday, with Core CPI expected to rise 3.1% year-over-year, compared to May's CPI report of 3.3%.More inflation data will be released on Friday with the release of the June PPI report, which is expected to rise 0.1% on a month-over-month basis.The new inflation data will help inform investors and the Federal Reserve about the path of interest rates for the rest of this year. Current market forecasts suggest the Fed's September FOMC meeting will bring the first rate cut.The week is also filled with Fed speakers, with Fed Chairman Jerome Powell set to testify to Congress on Tuesday and Wednesday, along with several speeches from Fed Governors.Finally, earnings season kicks off this week, with top US banks JPMorgan, Wells Fargo, and Citigroup set to release their second-quarter results before the market opens on Friday.With the S&amp;P 500 and Nasdaq 100 indexes trading at record highs, technical analyst Katie Stockton of Fairlead Strategies believes the gains can continue."The SPX completed a breakout from a flag pattern on Friday as positive short-term momentum lifted it out of its consolidation phase. The breakout allows for a measured move projection of about 5755 for this summer, suggesting the market may continue to shrug off seasonal 'doldrums," Stockton said in a Monday note to clients.Here's where US indexes stood shortly after the 9:30 a.m. opening bell on Monday:<ul><li><a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 5,577.71, up 0.19%</li><li><a target="_blank" href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 39,599.85, up 0.57% (+223.98 points)</li><li><a target="_blank" href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq composite</a>: 18,357.25, up 0.02%</li></ul>Here's what else is going on today:<ul><li><a target="_blank" href="https://www.businessinsider.com/hindenburg-research-adani-group-explained-stock-crash-short-seller-profits-2024-7">A short-seller who helped wipe out $153 billion in market value from Adani Group made just $4 million from the bearish trade.</a></li><li><a target="_blank" href="https://markets.businessinsider.com/news/bonds/jamaica-hurricane-beryl-catastrophe-bonds-climate-disaster-natural-damage-investing-2024-7">Jamaica can't tap into catastrophe-bond funds despite Hurricane Beryl's devastation because of air pressure levels.</a></li><li><a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-market-crash-prediction-2025-decline-fed-fails-avoid-recession-2024-7">BCA Research expects the stock market to crash 32% in 2025 as the Federal Reserve fails to prevent a recession.</a></li></ul>In commodities, bonds, and crypto:<ul><li><a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price">West Texas Intermediate</a> crude oil dropped 0.81% to $82.49 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price">Brent crude</a>, the international benchmark, was lower by 0.60% to $86.02 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price">Gold</a> edged lower by 0.68% to $2,381.30 per ounce.</li><li>The 10-year Treasury yield was flat at 4.29%.</li><li><a target="_blank" href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> jumped 2.36% to $57,187.</li></ul>

You Searched For "stock market response" and got 7 results

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Why the Fed is being blamed for the historic stock-market plunge

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Stock market today: Dow falls 533 points as tech rout spreads to the broader market

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Stock market today: US stocks rise to records ahead of key June inflation report

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