Dow Jones Climbs to 52,000 While Chips Bleed on Rate-Hike Fears: Stock Market Today
Hot inflation data fuels Fed rate-hike bets, hammering chip and AI-hardware stocks while the Dow tops 52,000 and small caps hold gains; gold rebounds.
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QQQ attracted $860.25 million and VOO $693.23 million in ETF inflows Thursday, while GLD added $627.68 million as total ETF flows reached $2.83 billion.
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Hot inflation data fuels Fed rate-hike bets, hammering chip and AI-hardware stocks while the Dow tops 52,000 and small caps hold gains; gold rebounds.
Gold hits $4,075 as inflation rises, but experts predict new records within 18 months driven by central banks and family offices.
The Nasdaq 100 fell 1% by midday Wednesday after September CPI topped forecasts, pushing Treasury yields and rate-hike bets higher.
Hot September CPI flipped Fed October hike odds to 54%. Economists Robin Brooks, LPL and Oxford Economics warn of debasement risk if the Fed waits.
Treasury yields pulled back from multi-decade highs Thursday, with a chip rout sending investors into bonds and easing months of pressure.
Rep. Thomas Massie says all government spending is paid for by citizens, while the U.S. deficit is projected to hit 6.1% of GDP in 2027.