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Barchart
Rich Asplund

Stocks Fall Back on Concern Interest Rates to Stay Higher for Longer

Interest Rates United States Dow Jones Barkin Mester US Federal Reserve Cleveland Fed Richmond Fed Williams Inflation

The S&P 500 Index ($SPX) (SPY) Thursday closed down -0.21%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -0.10%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.21%. 

US stock indexes gave up an early advance on Thursday and closed lower.  The S&P 500, Dow Jones Industrials, and Nasdaq 100 initially posted new record highs Thursday on speculation the Fed will be able to cut interest rates this year. Stocks and bonds also found support after weekly initial unemployment claims fell less than expected, a dovish factor for Fed policy.  Other weaker-than-expected economic reports included housing starts and manufacturing production. 

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