The New York Entrepreneur

: U.S. stocks open lower after Fed signals more interest-rate hikes ahead, ECB raises rates to 22-year high

Read Time:49 Second

U.S. stock indexes opened lower on Thursday after the Federal Reserve kept interest rates steady, but hinted they could restart hiking rates in the months ahead, while the European Central Bank lifted borrowing costs by a quarter of a percentage point to their highest level in 22 years. The S&P 500 SPX was down 7 points, or 0.2%, to 4,365. The Dow Jones Industrial Average DJIA shed less than 0.1% and the Nasdaq Composite COMP lost 0.4%. In U.S. economic data, retail sales for May were stronger than expected, rising 0.3% and showing surprising strength in a sign of durability of the current U.S. economic expansion. Meanwhile, worker filings for U.S. unemployment benefits held steady last week, remaining at a seasonally adjusted 262,000, the Labor Department said Thursday.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

About Post Author

Happy
Happy
0 %
Sad
Sad
0 %
Excited
Excited
0 %
Sleepy
Sleepy
0 %
Angry
Angry
0 %
Surprise
Surprise
0 %
Previous post Ticketmaster parent Live Nation, others agree to show ‘junk fees’ after Biden pressure
Next post : Bone Biologics stock plummets more than 50% after stock offering prices at deep discount