NEW YORK, Sept 30 — The S&P 500 ended lower yesterday as investors digested implications of a US inflation report for the Federal Reserve’s interest rate policy and adjusted...
NEW YORK, Sept 30 — The S&P 500 ended lower yesterday as investors digested implications of a US inflation report for the Federal Reserve’s interest rate policy and adjusted their portfolios on the last day of a weak third quarter for stocks.
Meanwhile, Freedman said, “we are at quarter end, and with quarter end comes all sorts of activities across both the stock and bond markets.” “Energy and financials have been up on a relative basis and they are feeling some rebalancing effect today,” Freedman said. “Equity investors are finally waking up to the Fed and the Fed comments that it is going to be higher for longer, and there is an alternative to stocks,” said Paul Nolte, senior wealth advisor and market strategist for Murphy & Sylvest Wealth Management.
In company news, Nike shares jumped 6.7 per cent after the world’s largest sportswear maker topped Wall Street estimates for first-quarter profit.
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