Market Recap – September 11th 💰

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Market Recap – September 11th

Momentum from Friday carried through the weekend as the markets had an exceptional day on Monday. Fears of interest rate hikes in the upcoming Federal Reserve meeting were soothed, giving the indices a late day push. The bell rang with the S&P 500 up 0.67%, the Dow Jones up 0.25%, and the NASDAQ up 1.14%, with the tech sector leading the way. Despite this, today’s big winner was as far away from tech as you can get. Hostess Brands was up 19.14% to $33.49 following news that J.W. Smuckers agreed to buy the famous Twinkie maker for $5.6 billion, sending the share price to that valuation. On the other hand, Raytheon fell by 7.88% to $76.90 after announcing they will take a $3 billion charge due to an engine recall from their Pratt and Whitney engines, which looks to hurt the airline industry.

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