The PULSE: Global Economic and Market News for October 16, 2024
Dow, S&P, NASDAQ: The Dow rose by 0.17%, while the S&P 500 and NASDAQ declined slightly as inflation and rate hikes weighed on tech and growth stocks. Investor sentiment remains cautious amid these macroeconomic concernsmarkets.businessinsider.com
Mortgage Rates: Mortgage rates have remained near their highest levels since 2000, with 30-year fixed rates exceeding 7%, further straining the housing market as the Fed continues its fight against inflationmarkets.businessinsider.com
US Consumer Sentiment: U.S. consumer sentiment weakened due to inflationary pressures and uncertainty over future economic growth. Concerns about affordability, particularly in housing and consumer goods, continue to erode consumer confidence in markets.businessinsider.com
Boeing's Crisis: Boeing is grappling with deep financial troubles from mounting debt, supply chain issues, and production delays in its commercial jets. These challenges are putting pressure on the aerospace sector, which may face further slowdowns in the innovation pipeline as Boeing works to recovermarkets.businessinsider.com
Energy Prices: Energy prices, especially oil, are set to ease as Middle East tensions stabilize. Lower crude oil prices will provide relief to consumers facing higher utility and fuel costs this yearmarkets.businessinsider.com
Crude Oil: Crude oil prices have tumbled significantly as fears of significant disruptions in the Middle East subside, resulting in a drop of over 3% today, which is likely to reduce fuel costs for businesses and consumers markets.businessinsider.com