The U.S. stock markets’ main indexes were set for a lower open on Friday as investors fretted over the prospect of an economic downturn and a hit to corporate earnings amidst 40-year-high inflation, recession, and the U.S. Federal Reserve’s aggressive interest rate hikes.
The U.S. central bank raised rates by a widely expected 75 basis points on Wednesday and signaled a longer trajectory for policy rates, dashing hopes that the Fed expects to get inflation under control in the near term.
The Dow is 1.43% away from its mid-June lows, with futures suggesting the blue-chip index might retest that level, its weakest point for the year, if losses extend after market open. The S&P 500 and the Nasdaq indexes are already in bear market and down more than 21% and 29%, respectively, so far this year…
Technology and growth stocks were among the biggest decliners in premarket trading, with megacap names including Alphabet Inc, Apple Inc, Amazon.com, Microsoft Corp, and Tesla Inc all down more than 1% as benchmark Treasury yields were at an 11-year high.
MacDailyNews Take: For new generations, sometimes tough lessons have to be retaught and learned the hard way. As we go through this, remember: It’s always darkest before the dawn.
• ‘Tis best to get a handle on inflation, if you know how, while you still can. – MacDailyNews, May 11, 2021
• Stop the misguided crusade against domestic energy production and profligate federal spending and inflation will be stopped dead in its tracks. It’s not difficult. – MacDailyNews, May 11, 2022
• When a business or an individual spends more than it makes, it goes bankrupt. When government does it, it sends you the bill… [which] comes in two ways: higher taxes and inflation. Make no mistake about it, inflation is a tax and not by accident. — Ronald Reagan
• Inflation is repudiation. — Calvin Coolidge
Please help support MacDailyNews. Click or tap here to support our independent tech blog. Thank you!
Don’t worry, a senescent puppet controlled by leftist, establishment, beholden to China, Soros, Zuckerberg, and only God knows who else will save us!
Soros and Zuckerberg need to be in a jail cell, stat
Can it now be said clearly and emphatically that MMT is dumbassery (spending is good—inflation aids in returning to the mean)? It’s worth noting, this is a position that resides on the left—not all—but only on the left. Debt has weight. Money creation is the primary catalyst for inflation. Inflation hurts all, but disproportionately those in lower econ strata.
cue the caustic, crazy, right wing nutters who have infected this site….
Given the results of leftist one-party rule in America over the past two years, which side is really comprised of caustic, crazy nutters?
Stop parroting what the establishment media tells you to think. Think for yourself, if you’re capable.
@John, so this is your latest disguise screen name while fraudulently MANIPULATING voting. Quick look as of this moment:
You have 81 votes, 4.75-stars, almost a perfect score. What, for a meaningless drive by insult one liner we have seen before. You responded to @First Then with 100 votes, 1.5-star rating. So, how long did it take you do accomplish voting fraud?
Take a look at your other work on this thread, STALKING posts leaning right.
@ET: 50 votes, 1.5 stars
@ DAMP: 75 votes, 2 stars
@R: 69 votes, 2 stars
@BACT: 68 votes, 2 stars
@DAMP: 50 votes, 1.5 stars
Again, how long did it take you do accomplish SYSTEMIC voting fraud?
I don’t expect an intelligent answer from a sicko perv who wastes his life in a meaningless pursuit that amounts to, ready, ZERO. Just like you…
Of course, there is a slide. We have a bunch of idiots in the White House.
Buck Fiden! This guy is such a dementia-laden traitor. Ugh.
The World is watching this human decay in real time. T’is the fate of all, but seeing it occur in the leader of the “free world” is not supposed to happen…but IT was seemingly affirmed as “ok,” as his demise was obvious prior to his election. The Fourth Turning in process?
I’ve asked my Biden buddies to find out who AppleCynic and to send the IRS over to his place. Stat.
All you downvoters – be careful. We know who you are. You have also been reported to Biden’s IRS. We’re comin’ for ya.