The stock market continues to be on a rollercoaster ride, with equities falling across the board this week on economic jitters. The S&P 500 notches the fifth day of losses while the Dow remained flat. Despite the Fed indicating a slower magnitude of interest rate hikes, high inflation, low unemployment, and weak global data cloud the prospects for the stock market.
“The market’s kind of bobbing and weaving and finding its breath after the big rally off the October lows,” said Ryan Detrick, chief market strategist at the Carson Group. He expects the trend to continue until investors receive more clarity from the Fed’s December policy meeting and November’s CPI report.
