US stocks fall sharply after Iran launches missile strikes on Israel, sparking fears of conflict.

From Investing.com: 2024-10-01 13:03:07

U.S. stocks fell as Iran launched strikes on Israel, sparking fears of a wider conflict. The S&P 500 is up over 20% this year, its best performance since 1997. The conflict pushes defense stocks higher.
Fed Chief Powell reins in rate cut expectations, hinting at gradual cuts. Goldman Sachs predicts 25bp cuts in November and December, with a close call for 50bp in November. The Fed started its easing cycle in August with a 50bp cut.
Investors await key economic data on job openings, ISM manufacturing, and non-farm payrolls for clues on further rate cuts. Job additions expected in October report. CVS Health considers division split, while Boeing mulls $10B stock sale.



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