Here are the top news stories that investors need to know before they begin their trading day:
First rocky month
As investors analysed Federal Reserve news, stocks declined on Wednesday for the second straight day. The S&P 500 plummeted 0.76% and the Nasdaq Composite fell more than 1.15%. The decline in the Dow Jones Industrial Average was 180.65 points, or 0.52%. The major averages are significantly down for the month of August, which has been a difficult month for stocks. Also declining from their stratospheric peaks are valuations.
2. Make choices, decisions
The minutes from the Federal Reserve’s most recent meeting in July were made public and revealed that officials are still worried about the rate of inflation. Members of the Fed also stated that if nothing changes, there may be additional rate increases. The federal funds rate reached its highest level in more than 22 years when the Fed hiked rates by a quarter of a percentage point at its meeting in July.
3. Walmart revenue
The low prices at Walmart continue to draw customers. In a significant contrast to Target, which cut its projection the day before, the big-box retailer increased its full-year forecast when it announced its second-quarter profits on Thursday morning before the bell.
4. The fires in Hawaii
The village of Lahaina has been ravaged by the wildfire in Hawaii. Following the deadliest wildfire in the United States in more than a century, thousands more people are homeless and more than 100 people are still missing.
Hello, Barbie!
The new black is pink. Barbie has easily surpassed Batman to become the most successful domestic film in Warner Bros. Discovery’s century-long history. Barbie has broken the studio’s previous domestic record, established in 2008 with “The Dark Knight,” earning $537 million at the box office.
Source (CNBC)
