{"id":5150,"date":"2024-03-26T13:57:50","date_gmt":"2024-03-26T06:57:50","guid":{"rendered":"https:\/\/hva.group\/?p=5150"},"modified":"2024-03-26T13:57:52","modified_gmt":"2024-03-26T06:57:52","slug":"my-sp500-stock-falls-when-tech-stocks-fall","status":"publish","type":"post","link":"https:\/\/hva.group\/en\/my-sp500-stock-falls-when-tech-stocks-fall\/","title":{"rendered":"US STOCKS: S&P500 FALLS AS TECH STOCKS FALL"},"content":{"rendered":"
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HVA \u2013 The S&P 500 closed lower on Monday as major tech stocks fell ahead of key market-moving events this week, including an inflation update and comments from Federal Reserve officials. By 4 p.m. ET (20:00 GMT), the Dow Jones Industrial Average was down 162 points, or 0.4%, the S&P 500 was down 0.3% and the NASDAQ Composite was lower by 0.3%.<\/p>\n\n\n\n

Fed officials speak, inflation data. Atlanta Federal Reserve Bank President Raphael Bostic reiterated on Monday that he sees only one rate cut this week, adding that the strong economy allows the central bank to continue its cautious approach. Fed Governor Lisa Cook also reiterated the need to proceed with rate cuts carefully. The less dovish comments contrast with Fed Chair Powell's speech last week after the central bank signaled that three rate cuts were still on the table by 2024. The next Fed speech is later this week, with comments from Fed Governor Christopher Waller and Chairman Jerome Powell likely to attract much of the investor attention.<\/p>\n\n\n\n

Personal consumption expenditure data, the Fed's preferred inflation gauge, is due out on Friday, when markets are closed for Good Friday. Traders now see a 75% chance of the Fed's first rate cut in June, up from around 55% early last week, according to the CME's interest rate tracker.<\/p>\n\n\n\n