Dow pops 400 points to start the week
the pasta sauce maker. Campbell Soup slipped around 1%, bringing shares to their cheapest price in more than a year.The Nasdaq Composite and S&P 500 slid about 2.9% and 2.3%, respectively, marking their worst weeks since March. The Dow finished the week about 1.1% lower.
"Markets are back on to a risk-on mode," said Chris Zaccarelli, chief investment officer of the Independent Advisor Alliance. "It's been a better-than-expected earnings season, and so I think that's why the market's had such staying power." "The models indicate that shelter inflation is likely to slow significantly over the next 18 months, consistent with the evolving effects of interest rate hikes on housing markets," the post said.
Treasury yields could fall over the next six to nine months as the economy slows thanks to the Federal Reserve's interest rate hikes, according to Wolfe Research chief investment strategist Chris Senyek.
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