The Dow Jones Industrial Average fell 147 points in pre-market trading as concerns about rising interest rates continued to erode market sentiment. On Thursday, the U.S. Federal Reserve issued a hawkish message on interest rates for the year ahead. The U.S. central bank held rates unchanged after its November meeting, but Fed Chair Jerome Powell suggested that another rate hike is poised for December.
Currently, there is about a 75% chance that the Fed will raise rates, according to the markets. Today, multiple members of the Fed will give speeches and discuss monetary policy, the health of the U.S. economy, and expectations for growth in the year ahead.
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Here are the numbers from Thursday for the Dow, S&P 500, and Nasdaq:
Index Previous Close Point Change Percentage Change Dow Jones 26,191.22 10.92 0.04% S&P 500 2,806.83 -7.06 -0.25% Nasdaq 7,530.88 -39.87 -0.53%
Now, here’s a closer look at today’s Money Morning insight, the most important market events, and stocks to watch.
Today’s Money Morning Insight: These 3 Stocks Are the Key to 2018’s Greatest Profits
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These three stocks, on the other hand, are flying under the radar… for now. Each of them could see exponential stock price