Market Recap – September 7th
On Thursday’s trading day, markets continued their push to lower levels as anticipation builds for the Fed’s interest rate decision in two weeks. Initial jobless claims for the week came lower than expected, signifying data that could potentially lead to another interest rate hike, which is currently set around 30%. Investors will continue to analyze this month’s data with hopes it can shed a different light on the Federal Reserve when compared to August’s data. For the main indices, the S&P 500 dropped 0.32%, the NASDAQ Composite went down 0.89%, and the Dow Jones rose 0.17%. Alongside the drops in tech stock came AI firm C3.ai, which published its guidance that led to weak fiscal second-quarter earnings. After posting large operating losses, share prices for C3.ai tumbled by 12.24%. Also in the red was orthodontics company Align Technology, with its stock falling 7.78% after announcing its $84 million acquisition of 3D printing company Cubicure.
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I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.