SP 500 Snaps 4-Week Winning Streak As Investors Anticipate Higher Interest Rates
The SPDR SP 500 ETF Trust (NYSE: SPY ) broke a four-week winning streak this week as the latest commentary from the Federal Reserve suggests investors can expect aggressive interest rate hikes to continue. On Wednesday, the Fed released minutes from its policy-setting meeting in July that revealed the central bank is prepared to continue raising interest rates until inflation subsides substantially. The bond market is pricing in another rate hike of at least 0.5% in September. On Thursday, GameStop Corp. (NYSE: GME ) Chairman Ryan Cohen ''s RC Ventures disclosed in a filing that it has unloaded its entire stake in so-called meme stock Bed Bath Beyond Inc (NASDAQ: BBBY ). Bed Bath Beyond shares had skyrocketed more than 350% … Full story available on Benzinga.com
SP 500 Snaps 4-Week Winning Streak As Investors Anticipate Higher Interest Rates
The SPDR SP 500 ETF Trust (NYSE: SPY ) broke a four-week winning streak this week as the latest commentary from the Federal Reserve suggests investors can expect aggressive interest rate hikes to continue. On Wednesday, the Fed released minutes from its policy-setting meeting in July that revealed the central bank is prepared to continue raising interest rates until inflation subsides substantially. The bond market is pricing in another rate hike of at least 0.5% in September. On Thursday, GameStop Corp. (NYSE: GME ) Chairman Ryan Cohen ''s RC Ventures disclosed in a filing that it has unloaded its entire stake in so-called meme stock Bed Bath Beyond Inc (NASDAQ: BBBY ). Bed Bath Beyond shares had skyrocketed more than 350% … Full story available on Benzinga.com