Nasdaq Gains 0.4% as Dow Slips 0.2% After Fed's 25-Basis-Point Hike
Updated
Updated · Yahoo Finance · Sep 18
Nasdaq Gains 0.4% as Dow Slips 0.2% After Fed's 25-Basis-Point Hike
1 articles · Updated · Yahoo Finance · Sep 18
Summary
US stocks were little changed Friday morning, with the Nasdaq up 0.4%, the S&P 500 adding 0.1%, and the Dow falling 0.2% as investors absorbed the Fed's first rate increase in three years.
The 25-basis-point hike was widely expected, but doubts persist over whether one move can tame stubborn inflation; JPMorgan CEO Jamie Dimon said it is still unclear inflation has been beaten.
Oil offered only partial relief after slipping below $100, then edging higher again in early trading as Strait of Hormuz disruptions in the Iran war's seventh month continued to feed global inflation worries.
Chip shares also steadied after this week's sell-off tied to Anthropic and OpenAI calls for slower AI development, leaving the PHLX Semiconductor index only slightly lower for the week.