{"id":2151915,"date":"2024-01-17T16:55:02","date_gmt":"2024-01-17T21:55:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wall-street-ends-down-as-us-retail-sales-data-crimps-rate-cut-bets\/"},"modified":"2024-01-17T17:01:07","modified_gmt":"2024-01-17T22:01:07","slug":"wall-street-ends-down-as-us-retail-sales-data-crimps-rate-cut-bets","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wall-street-ends-down-as-us-retail-sales-data-crimps-rate-cut-bets\/","title":{"rendered":"US retail sales data dampens rate cut expectations, causing Wall Street to close lower"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fwall-street-ends-down-as-us-retail-sales-data-crimps-rate-cut-bets%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2151915&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p><!DOCTYPE html PUBLIC \"-\/\/W3C\/\/DTD HTML 4.0 Transitional\/\/EN\" \"http:\/\/www.w3.org\/TR\/REC-html40\/loose.dtd\"><br \/>\n<?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><html><body><\/p>\n<div class=\"entry-content\">\n<p><strong>January 17, 2024 \u2013 1:18 PM PST<\/strong><\/p>\n<p>(Reuters) \u2013 Wall Street\u2063 stocks finished\u2062 lower on Wednesday after \u2062upbeat December U.S. retail sales data\u200c eroded expectations the Federal Reserve will kick off its \u2062rate-cut campaign as early as March.<br \/>The benchmark S&#038;P 500 (.SPX),\u200b fell to its lowest in over a week.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-3\" style=\"min-width: 320px; min-height: 50px; text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-3'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>Amazon (AMZN.O), Nvidia \u200d(NVDA.O), and Alphabet \u2064(GOOGL.O), dipped \u2064between 0.5% and 1% and weighed on the S&#038;P 500 as the 10-year Treasury yield rose to over 4.1%, its highest this\u2064 year.<\/p>\n<p>Tesla (TSLA.O), dropped 2% after the electric-vehicle maker slashed prices of its Model Y \u200dcars in Germany a week after reducing\u2062 prices for some China models.<\/p>\n<p>The <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/homebuilders-say-housing-market-is-in-recession\/\" title=\"Homebuilders Say Housing Market Is in Recession\">interest rate-sensitive<\/a>\u2063 S&#038;P 500 real estate sector index (.SPLRCR), tumbled 1.9%.<\/p>\n<p>Data showed discounts from retailers and\u2064 increased motor-vehicle purchases supported a higher-than-expected rise in U.S. retail sales, keeping the economy on a solid\u200c footing in 2024.<\/p>\n<p>That reinforced the\u2063 view that the Fed may not cut rates as quickly as\u200c previously expected this year.<\/p>\n<p>Traders\u2019 expectations of a\u200b 25-basis-point Fed rate in March dipped to 55%,\u2063 from around 60% \u2063before the data was released.<\/p>\n<p>U.S. stocks in recent weeks have relinquished some gains from a strong final two months of 2023.<\/p>\n<p>\u201cPeople\u2019s positions are moderating from \u2018all positive\u2019 to \u2018there\u2019s still a lot \u200bof uncertainty out there,&#8217;\u201d said\u2064 Tom Martin, senior \u200cportfolio manager at\u200b Globalt Investments \u2062in Atlanta.<\/p>\n<p>He cited Fed officials who have recently \u2063downplayed expectations of a\u2064 quick start to rate cuts, and mixed economic data.<\/p>\n<p>The CBOE Market Volatility Index \u2062(.VIX),\u200d a market fear gauge, rose to an over two-month high \u200cof 15.40 points during the day.<\/p>\n<p>The S&#038;P 500 remains down about 1% from its record high close in January 2022.<\/p>\n<p>U.S. economic activity was little\u2064 changed from December through early\u2062 January, while firms reported pricing pressures were mixed\u2063 and \u2064nearly all cited signs of a cooling labor market, \u200bthe Fed\u2063 said in its \u201cBeige\u2063 Book\u201d report on Wednesday.<\/p>\n<p>Morgan Stanley (MS.N),\u200d fell 1.8% after analysts\u2062 cut their ratings and \u2064price\u200b targets in the wake of the bank\u2019s fourth-quarter earnings. Bank of America (BAC.N), and Citigroup (C.N), each lost about 1%.<\/p>\n<p>The S&#038;P 500 declined 0.56% to \u200cend at 4,739.21 points.<\/p>\n<p>The\u2063 Nasdaq fell \u20640.59% to\u200d 14,855.62 points, \u200dwhile Dow Jones Industrial Average \u2062slid 0.25% to 37,266.67 points.<\/p>\n<p>The small-cap Russell 2000 index \u2063(.RUT), \u200bdropped 0.7% and closed at its lowest\u2064 in over a month.<\/p>\n<p>Charles Schwab\u200b (SCHW.N), dropped 1.3% after its\u2064 fourth-quarter profit fell 47%.<\/p>\n<p>Spirit Airlines (SAVE.N), tumbled 22%, down sharply for a second day\u200c after a U.S. judge on Tuesday blocked JetBlue (JBLU.O), from acquiring the carrier.<\/p>\n<p>Ford Motor (F.N),\u2063 declined 1.7% after UBS \u200bdowngraded the stock to \u201cneutral\u201d from \u201cbuy.\u201d<\/p>\n<p>Boeing gained 1.3% after the Federal Aviation Administration said inspections\u200c of an initial group of 737 MAX 9 airplanes had been completed.<\/p>\n<p>Declining stocks outnumbered rising ones\u200d within the S&#038;P 500\u2062 (.AD.SPX), \u200cby a 4.0-to-one\u200d ratio.<\/p>\n<p>The S&#038;P 500 posted 24 new highs and five new lows; the Nasdaq recorded 47 new\u2063 highs and 219 new lows.<\/p>\n<p>Volume on U.S. \u200dexchanges was relatively light, with 11.8 billion \u200cshares traded,\u2062 compared to an average of 11.9 billion shares over the previous 20 \u2063sessions.<\/p>\n<p><sup>Reporting by Noel Randewich in \u200dOakland, Calif., and by Johann\u2064 M\u200c Cherian\u2062 and Ankika Biswas in \u200dBengaluru; Editing \u2064by Pooja Desai and Richard Chang<\/sup><\/p>\n<\/p>\n<div id=\"rc-widget-10bad2\" data-rc-widget data-widget-host=\"habitat\" data-endpoint=\"\/\/trends.revcontent.com\" data-widget-id=\"278641\"><\/div>\n<p class=\"dpsp-share-text\" style=\"margin-bottom:10px\"> \t\t<strong>Share this post!<\/strong>\t<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h2>Breaking News<\/h2>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Iran Launches\u200d Attacks\u2063 in Northern Iraq,\u200d Syria, and Invades Pakistani Airspace<\/h3>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Biden Administration Assigns Houthi Terror Group to Specially Designated Terror List<\/h3>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>American Man Who Faked Death to \u200cEscape\u200b Rape Charges Returns to the U.S.<\/h3>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Investigation into Biden Family&#8217;s Alleged Corruption in Ukraine Takes a New Turn<\/h3>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>WEF Executives Grappling with Monetizing Early Demos<\/h3>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Apple Overtakes Samsung as Largest Seller of Smartphones<\/h3>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Tesla CEO Elon\u200d Musk Uncomfortable Without\u200c Voting Control in AI \u2063and Robotics<\/h3>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Google\u200b Faces Patent Infringement Lawsuit \u2063Over Processors<\/h3>\n<\/p><\/div>\n<p> rnrn  <\/p>\n<h2> \u2063 Which major companies experienced declines in \u2064their stock values\u200b following\u2062 the release \u200dof retail sales \u2064data? \u2064 <\/h2>\n<p><span>  Title: Wall Street Stocks Finish Lower as Upbeat Retail Sales Data\u200c Lessen Rate-Cut Expectations<\/p>\n<p>Introduction:<\/p>\n<p>On January 17, 2024, Wall Street witnessed a \u2063decline\u2062 in stocks, driven by December&#8217;s upbeat U.S. retail sales data.\u2063 This data eroded expectations of an early \u2063rate-cut campaign \u2064by the Federal Reserve, contributing to \u2063a decrease in\u2062 the benchmark \u2062S&#038;P 500 and dampening investor sentiments. With key tech giants \u2064such as\u2063 Amazon, Nvidia, and Alphabet experiencing a dip in their stock value, the 10-year Treasury yield \u2063reaching the\u200d highest point of the year, \u200dand the interest rate-sensitive real estate\u2064 sector tumbling, the outlook for rate cuts and\u200c market performance has shifted. This article will delve into the\u200c factors that influenced the market decline \u200band explore the possible implications for various \u2062sectors.<\/p>\n<p>Impacted Stocks:<\/p>\n<p>Several major companies experienced a decline in their stock\u200d values following the release of December&#8217;s retail sales data. Amazon, Nvidia, and Alphabet, all saw their stocks fall by 0.5% to 1%, \u200dthus contributing to \u2063the \u2064overall drop in the S&#038;P 500. Tesla, on the other hand, saw a 2% decrease after reducing prices for some \u200bof its models in Germany. Furthermore, the S&#038;P 500 real estate sector index \u200btumbled 1.9%.<\/p>\n<p>Retail Sales and Economic Outlook:<\/p>\n<p>The retail sales data indicated a rise that exceeded \u2062expectations, primarily fueled by increased motor-vehicle purchases and retailer discounts. This unexpected growth has reinforced the view that the Federal Reserve may not initiate rate cuts as early as previously anticipated. Consequently, traders&#8217; expectations of a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/nasdaq-rises-on-boost-from-growth-stocks-fed-comments-in-focus\/\" title=\"Nasdaq surges on growth stocks; attention on Fed remarks.\">25-basis-point rate cut<\/a> in March dipped \u200cto 55%, which is a decrease from around 60% prior to the\u200c data release. This shift in expectations reflects an evolving perspective of market uncertainty.<\/p>\n<p>Investor Sentiments and Market Volatility:<\/p>\n<p>The\u200d recent decline in the\u2063 stock market reflects a moderation of\u2062 investor positions from optimism to a more cautious outlook. While the final two \u2063months of 2023 delivered strong gains, recent mixed economic data and statements\u200d from Fed officials downplaying \u2064rate cuts have added to \u200cthis uncertainty. The CBOE Market Volatility Index (VIX), a measure of market fear, rose to an over two-month high,\u2063 indicating increased market volatility and\u2062 investor concerns.<\/p>\n<p>Banking and \u200cOther Sectors:<\/p>\n<p>Morgan Stanley witnessed a 1.8% decline following analysts cutting their ratings and price targets in light of the\u200c bank&#8217;s Q4 earnings \u200creport. Additionally, Bank \u200bof America and \u200bCitigroup each experienced losses\u2062 of around 1%. Charles Schwab saw\u2064 its stock value drop by \u20631.3% after a 47% fall in\u2063 its fourth-quarter profit. Furthermore, Spirit Airlines tumbled by\u2064 22% as a \u2064U.S. judge blocked JetBlue from acquiring the carrier. Ford Motor declined by\u2063 1.7%\u2062 after being downgraded to &#8220;neutral&#8221; from &#8220;buy&#8221;\u200b by UBS.<\/p>\n<p>Market Performance:<\/p>\n<p>The S&#038;P 500 declined by 0.56% to close at 4,739.21 points, while the Nasdaq fell by 0.59% to 14,855.62 points. The Dow Jones Industrial Average \u200cslid by \u20640.25%\u200b to 37,266.67 points. The\u200b small-cap Russell 2000 index also dropped by 0.7% and closed at its lowest point in over \u200da \u2062month.<\/p>\n<p>Conclusion:<\/p>\n<p>The\u200d decline in Wall Street stocks on January 17, 2024, showcases\u200c the impact \u2062of December&#8217;s upbeat retail sales data and diminishing expectations of a rate-cut campaign by the Federal Reserve. Tech giants, \u2064<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/feds-powell-warns-us-budget-on-unsustainable-path-in-senate-testimony\/\" title=\"Powell warns US budget is unsustainable in Senate testimony.\">interest rate-sensitive sectors<\/a>, and various companies across different industries all experienced declines in stock values. Investor\u200c sentiments have shifted from a largely positive stance to one of caution due to mixed economic data \u2064and \u2064statements by Fed officials. Market volatility has also \u2062increased, \u2064as indicated by the rise in the CBOE Market Volatility Index. \u200bIt remains\u2062 to be\u2064 seen how these factors will shape the trajectory of the stock market and investor sentiment in the coming months.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On January 17, 2024, Wall Street stocks closed lower as December U.S. retail sales data dampened hopes of an early rate-cut campaign by the Federal Reserve. The S&amp;P 500 fell to its lowest level in over a week, with Amazon and Nvidia also experiencing declines<\/p>\n","protected":false},"author":1911,"featured_media":2151916,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-2151915","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2151915","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1911"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2151915"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2151915\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2151916"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2151915"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2151915"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2151915"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}