Bitcoin Tops $80,000, S&P 500 Slips as Yields Reclaim 5%: Stock Market Today
Crypto-linked equities ripped higher as Bitcoin cleared $80,000, but the S&P 500 slipped with the 10-year Treasury yield back above 5%.
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Charlie Bilello Warns of $100 Billion Iran War Fuel Shock as $4.43 Gas Prices Show the ‘Inflation Problem’ Isn’t Over
Charlie Bilello explains how record $4.43 gas prices act as a $100 billion tax on consumers, proving the inflation problem is far from over.
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Nasdaq 100 Rallies as Oil Slides, Yields Retreat: Stock Market Today
Wall Street snapped a two-day losing streak Thursday as oil retreated from its geopolitical spike and the 10-year Treasury yield slipped back below 5%. Chipmakers led the rebound, with Intel, AMD and Micron all posting outsized gains, while gold climbed 2.5% to $4,369 an ounce. The bounce came one day after the Federal Reserve delivered its first interest rate hike since 2023 and signaled at least one more this year.
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The Fed Just Hiked Interest Rates. Are There More Hikes on the Way?
The Federal Reserve, under new Chair Kevin Warsh, raised interest rates by a quarter-point this week. Multiple indicators—including FOMC projections, futures markets showing 87% probability of another hike, and Treasury yields—suggest more rate hikes are coming in 2026 and 2027. Despite typically negative stock market performance during rate-hiking cycles, the S&P 500 rose 1.1% after the announcement as investors welcomed the Fed's commitment to fighting inflation.