From CNBC: 2024-07-10 16:32:00

focusing more on reaching “maximum employment” as part of their dual mandate, according to Bank of America. The Fed previously prioritized maintaining low inflation, however, rising wages and labor shortages may prompt a shift. Economists predict a potential rate hike in 2023 due to strong job growth and inflation levels. – Cynthia Johnson

6 Hours AgoMarkets fall as Fed signals rate hike could come in 2023Stocks dropped following Federal Reserve Chair Powell’s comments hinting at a potential rate hike next year. Powell’s statement on prioritizing achieving full employment sparked concerns over earlier-than-expected tightening. Market volatility persists as investors monitor monetary policy shifts. The S&P 500 and Nasdaq dipped into negative territory while the Dow saw more moderate loss. – Lauren Thompson

7 Hours AgoMixed session sees Dow set modest record, S&P 500 and Nasdaq retreatStocks ended a mixed session on Thursday, with the Dow setting a modest record close while the S&P 500 and Nasdaq slipped. The Dow edged up slightly to a new all-time high of 35,499.85, marking its third consecutive record close. The S&P 500 and Nasdaq, however, dipped 0.18% and 1.21% respectively. – Lydia Kim



Read more at CNBC: Stock market news for July 10, 2024