NASDAQ Composite (^IXIC)
| Previous close | 15,927.90 |
| Open | 15,821.30 |
| Volume |
| Day's range | 15,885.89 - 16,021.50 |
| 52-week range | 11,925.37 - 16,538.86 |
| Avg. volume | 5,182,786,290 |
- Yahoo Finance Video
Ex-Fed President expects Powell to be 'non-committal' on rates
Ahead of Wednesday's highly anticipated Federal Reserve rate decision, Former Atlanta Federal Reserve President Dennis Lockhart joins Market Domination Overtime to provide his insight into the rate cut outlook. Lockhart expects Fed Chair Jerome Powell to be "non-committal" in his stance, as significant uncertainty surrounds the monetary easing policy. He notes that the quarter has presented "sideways inflation data," forcing the Federal Reserve to "keep their options open" regarding rate cut bets. Addressing concerns over potential rate hikes, Lockhart believes this is not "the base case." However, he acknowledges that the probability is not zero. Nonetheless, he expects Fed Chair Powell to neither deny nor confirm whether rate hikes are on or off the table, stating that the committee cannot be "definitive on any particular path or policy." When asked if he believes the economy has felt the effects of the rate tightening cycle that occurred, Lockhart says, "The economy has tolerated this rate setting extremely easily." For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. Editor's note: This article was written by Angel Smith
- Yahoo Finance Video
US Treasury lifts borrowing estimates on weak cash receipts
The US Treasury has revised its estimates for federal quarterly borrowing upward. Due to weaker cash receipts, the Treasury now projects to borrow $243 billion during the current quarter and a net $847 billion between the July to September period. Yahoo Finance's Julie Hyman and Josh Lipton break down the details. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. Editor's note: This article was written by Angel Smith
- Yahoo Finance Video
Why this strategist believes 'it's not a bear market'
As markets (^GSPC, ^IXIC, ^DJI) rally in anticipation of the Federal Open Market Committee (FOMC) meeting on Wednesday, Macro Risk Advisors Head of Technical Strategy John Kolovos joins Catalysts to provide his market outlook. Kolovos admits to being concerned about the way markets experienced a downturn in April. He explains that there was "a cascading event of selling begets selling," indicating a self-perpetuating cycle of selling pressure. However, Kolovos emphasizes that "it's not a bear market," suggesting that the market is leaning more toward correction territory. He also notes that during an election year, market pullbacks are common. Although the market decline that occurred in April "has gotten better," the strategist points out that it "doesn't show signs of capitulation quite yet." For more expert insight and the latest market action, click here to watch this full episode of Catalysts. Editor's note: This article was written by Angel Smith
