Market Volatility Persists Amid Fed Rate Uncertainty
U.S. stocks experienced a decline on Thursday due to economic data suggesting uncertainty about potential interest rate cuts by the Federal Reserve. With drops in most S&P 500 sectors, investor expectations for rate cuts have slightly diminished. Notable fluctuations in the market were observed in companies like Intel and CarMax.
U.S. stocks fell moderately on Thursday, adding to market concerns over Federal Reserve's interest rate decisions. Key economic data showed a mixed outlook, with initial jobless claims dropping while GDP growth was stronger than expected in the second quarter.
Chicago Fed President Austan Goolsbee expressed caution against rapid rate cuts amid inflation risks, reflecting mixed sentiments among policymakers. This follows the Fed's first rate cut since December and hints at future reductions.
Tech and energy stocks showed resilience with Intel surging due to investment talks, while major indexes such as the Dow and Nasdaq recorded losses. Investor focus shifts to upcoming economic data and corporate earnings for market direction.
(With inputs from agencies.)
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