From Nasdaq: 2024-04-05 03:47:00

U.S. stock markets took a hit on Thursday as investors worried about the timing of the first Fed rate cut. The Dow Jones fell 1.4%, the Nasdaq dropped 1.4%, and the S&P 500 tumbled 1.2%. Inflation fears were fueled by a recent spike in crude oil prices.

Fed officials are signaling possible rate cuts this year, but the timing remains uncertain. Regional Fed Presidents expect rate reductions but not immediately. Minneapolis Fed President suggested two rate cuts, while Richmond Fed President wants clarity on inflation before making a move.

Crude oil prices rose due to increased tensions between Israel and Iran. The U.S. benchmark settled at $86.59 per barrel, while Brent crude hit $90.65 per barrel. Higher oil prices could worsen inflation, adding to economic concerns.

Economic data showed initial jobless claims rising to 221,000 and trade deficits reaching $68.9 billion in February. Market strategist Kevin Cook shared 5 stocks with strong AI potential, predicting a $15.7 trillion AI impact by 2030. ChatGPT technology offers automation for better interactions.



Read more at Nasdaq: Stock Market News for Apr 5, 2024